Sergei Bakeshin has provided his comments to RBC on Sberbank’s intention to petition for the insolvency of a large agricultural holding in the north-west of Russia

Sergei Bakeshin - Counsel

Sberbank intends to petition for the insolvency of a large producer of pork GK Agroholding Pulkovsky, which includes two enterprises in the Leningrad and one in the Novgorod region. The reason for the financial claims were debts on a loan.

“Probably Sberbank is trying to restructure the company’s debt, especially since it has pledged shares in the authorized capital of Agroholding Pulkovsky. If this fails, Sberbank wants to be the first to petition for insolvency. Surely the bank will do so if another creditor publishes a notice of intent to petition the company?” commented the Head of Dispute Resolution and Insolvency practice, at Maxima Legal, Sergei Bakeshin.

To read the full article (in Russian) please see the website of RBC Petersburg >>>