Sergei Bakeshin commented for «Novy Prospect» the bankruptcy of one of the shipbuilding companies of «Pella» Group

Sergei Bakeshin - Senior Associate

«Sudostroitelniy zavod «More» JSC filed a bankruptcy petition against «Intro-Pella» LLC which falls under a corporate umbrella of «Pella» Group. The insolvency petition is connected with the longstanding dispute between these two enterprises. The first demands to pay off the arrearage in payments for contracting in building small-size missile ships of Project 22800 «Karakurt» were claimed to «Pella»’s structure in 2019. In particular, in one of the lawsuits debt amount was 200 million rubles. Half of this arrearage was paid in April 2021 in the framework of amicable agreement. The other lawsuit claims the sum of 50 million rubles for contracting.

Sergei Bakeshin, Head of Dispute Resolution and Insolvency Practice at Maxima Legal, pointed out «Novy Prospect»’s attention to the fact that lately the «Arsenal» manufacture filed a bankruptcy petition against parent company «Pella» which is an indication of poor financial condition of the whole group. «Since bankruptcy petitions are filed against both companies, they won’t be able to financially support each other» – explained Sergei.

However, the expert noticed that the bankruptcy petition against «Pella» can be returned by the Court because «Arsenal» broke the rules on publishing the notification with the intention to file the bankruptcy petition.

To read the full article (in Russian) please visit «Novy Prospect» website >>>