Sergei Bakeshin has discussed with the RBC the bankruptcy prospects of a large poultry farm and its top manager

Sergei Bakeshin Senior Associate

DOM.RF filed an insolvency application with Nikolay Chistyakov, chairman of the board of directors of Gatchinsky Kombikormovy Zavod Group of Companies. According to the bank’s press service, the basis for the initiation of personal bankruptcy were more than 1 billion rubles obligations of the entrepreneur to DOM.RF, which arose in connection with the guarantee of the top manager of the loans of  Udarnik Poultry Farm (part of the holding), where a monitoring procedure is introduced.

Head of Dispute Resolution and Bankruptcy Practice at Maxima Legal Sergei Bakeshin explained to the RCB St Petersburg, that the outcome of the negotiations with the bank on the bankruptcy application of Nikolai Chistyakov will largely depend on the financial condition of the companies of Gatchinsky Kombikormovy Zavod holding. “If the poultry farm does not have other large creditors, it may try to restructure the debt to “DOM.RF”. If a large number of persons take part in the bankruptcy of the company, it will be more difficult to reach an agreement,” said Sergei.

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