Sergei Bakeshin has commented for the DP on the bankruptcy case of one of the assets of a St Petersburg billionaire

Sergei Bakeshin - Counsel

N. E. P. S. Group of Companies has filed a bankruptcy petition to the Commercial Court of St Petersburg and the Leningrad Region against Granit Group LLC, an asset of billionaire Andrei Yevdokimov. The plaintiff is trying to get 11.3 million rubles debt through bankruptcy proceedings.

According to Head of Dispute Resolution and Insolvency Practice at Maxima Legal Sergei Bakeshin, if the debt is repaid before the court hearing and there are no other creditors, it is highly probable that the case will be terminated.

It should be noted that from 2017 to 2019, the revenue of Granit Group LLC, which is engaged in the construction of infrastructure and non-residential facilities throughout Russia, fell from 18.9 billion to 1.2 billion rubles.

“This may be explained by the fact that the company has completed the implementation of major projects, in which it acted as a contractor, and switched to the implementation of its own development project – Imperial Yacht Club residence complex “, suggested Sergei Bakeshin.

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