Dmitry Uryakin has commented for the DP on the disputes of the St. Petersburg billionaire’s companies with VEB.RF state corporation for a total amount of almost 24 billion rubles

Dmitry Uryakin - Senior Associate

The Commercial Court of the Moscow District upheld the decision of previous court instances to recover 16.2 million euros and 2.096 billion rubles from JSC Talion and Lesosyrovoye Obozrenie (LSO) LLC. The companies were the guarantors of Sovremennye Tekhnologii Trebstva (STOD) LLC for the loans of 178.894 million euros and 5.271 billion rubles issued by tVEB.RF state corporation . It should be noted that all three legal entities are affiliated with Alexander Yebralidze, a billionaire from St Petersburg, and the reason for going to court was the breach of payment terms.

At the same time, almost simultaneously with the decision of the Commercial Court of the Moscow District, the Commercial Court of Moscow received a new claim of VEB.RF for 20.4 billion rubles against LSO and Talion. It is possible that the companies also acted as guarantors of the loan by STOD-Ura lLLC. for the construction of a wood processing complex in the Titanium Valley special economic zone in the Sverdlovsk region. The investment in the project amounted to about 20 billion rubles, but it was not implemented due to the breach of basic agreements between Titanium Valley and the regional government, involving the construction of access railroads.

“As a rule, guarantors under loan agreements are held liable when it is extremely difficult to collect debts from the principal debtor or when he is reluctant to pay it back and the term of the guarantee is about to expire,” explained to the Delovoy Peterburg newspaper Dmitry Uryakin, Associate at Maxima Legal.

To read the full article (in Russian) please see the website of the Delovoy Peterburg newapaper  >>>