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BUSINESS REPAID 19 BILLION OF TAX DEBTS DUE TO RESTRUCTURING

... In addition, for six months in the amount of over 41 billion rubles, amicable agreements were concluded and installments were provided for the payment of taxes. According to the Federal Tax Service, such positive results confirm the effectiveness of debt restructuring of businesses that are undergoing financial difficulties.

A BUSINESSMAN FROM THE KRASNOYARSK TERRITORY BOUGHT OUT A SIBERIAN METALWORK PLANT

... Moscow-based OJSC Globalelectroservice, which owned 51% of the authorized capital. The remaining shares belonged to companies from Novosibirsk, Rostov and Chelyabinsk. However, despite attempts to avoid bankruptcy, the company was unable to repay its debts, which led to its liquidation. Sole proprietor Alexander Skazka, who is acquiring the plant, is the owner of a microenterprise that produces plastering works. Despite the fact that his business is not directly related to the production of metal structures, the deal opens up new opportunities for him, as he now becomes the owner of a significant manufacturing asset. The transaction price was set at 282.6 million rubles, which was the ...

THE ACTUAL BENEFICIARY OF THE BUSINESS CAN RESPOND WITH LOSSES TO THE CONTROLLED PERSON IN HIS PERSONAL BANKRUPTCY

The creditor applied to the court for inclusion of the claim in the debtor's register (case no. A60-49300/21). The courts of two instances refused to satisfy the application, citing the fact that there was a lease relationship between the debtor and the creditor, but the fact that the debtor caused losses to the creditor ...

GERMAN BUSINESS SHOWS RECORDS IN THE NUMBER OF BANKRUPTCIES

...,622 cases of insolvency were officially recorded, which is 27.6% higher than in January 2023. German statistics have been recording such dynamics, showing a double-digit increase in the number of bankruptcies, since the middle of last year. In fact, business has only now returned to the level typical for April 2019 – March 2020, preceding the outbreak of the pandemic. Experts believe that the actual number of bankruptcy cases may reach 20 thousand. The main reasons are the rise in energy prices, ...

VTB WILL TRANSFER ASSETS WORTH 170 BILLION RUBLES TO A NEW LEGAL ENTITY

VTB shareholders (MOEX: VTBR) have approved the creation of a separate legal entity to manage blocked assets. This decision was made at an extraordinary meeting. By the end of 2024, the bank intends to transfer assets and debts to creditors from unfriendly countries to a new separate legal entity. The total amount of obligations is up to 170 billion rubles, Kommersant clarifies. As explained in the VTB press service, such a measure will help to increase the efficiency ...

THE CENTRAL BANK: COMPANIES HAVE INCREASED DEMAND FOR LOANS

Last month, the demand for loans from legal entities increased, the banking sector portfolio grew by 1.8% in March, the Bank of Russia said. The central bank also clarified that loans were taken mainly by oil and gas, transport and construction organizations. One of the reasons for the increase in demand is the need to pay large taxes, such as income tax and additional income tax for 2023, VAT for the fourth quarter of 2023. Companies took out loans in rubles more often (+2%). The dispute on foreign...

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