The CONTRACTOR WILL BANKRUPT THE STRUCTURE OF THE DEVELOPER "FIRST TRUST"

Construction and Installation Department (SMU) No. 5 filed an insolvency claim with the company "Osnova", part of the First Trust Group of Companies (case No. A07-484/2023). The amount of debt incurred on the basis of a contract agreement and recognized by the court in October 2022 is about 507.2 million rubles. It included 448.6 million of the principal debt. In addition, the court collected a penalty (37.8 million) and interest (20.9%).

The application was submitted to the arbitration of the Republic of Bashkortostan on January 11, but on January 18 it was returned to the applicant due to procedural violations. The application was signed by a person who does not have the necessary authority to do so.

SMU No. 5 declares that it will seek bankruptcy of the defendant anew. According to experts, if the organization re-applies to the court, having filed the claim properly, the "Basis" is highly likely to become bankrupt.

The defendant received its current name ten days after the court in October 2022 issued a decision to recover more than half a billion from him. The former name ("Biosphere-Height") was associated with the construction of a residential complex of the same name on the territory of the Glumilino microdistrict. The construction process began in 2020 and was completed in the spring of 2022.

The construction contractor (SMU-5) signed all the necessary acceptance certificates from the customer. However, he did not wait for their full payment. In the court, which considered the litigation between the companies, the customer (Biosphere-Height) stated that he was dissatisfied with the quality of the work. However, the organization did not send any pre-trial claims to the contractor, and paid for part of the work. The firm also did not appeal the court decision itself.

In case of repeated appeal of SMU No. 5 to the court, as experts note, bankruptcy of the defendant ("Basis") is unlikely to be avoided. The firm, according to accounting data for 2021, does not have fixed assets. The debit debt is 208 million rubles. The company also has no financial investments.

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