Sergei Bakeshin commented for Novy Prospect the asset valuation of «Urozhaynoe» farm
According to the Unified Federal Register of Bankruptcy Information the asset valuation of «Urozhaynoe» LLC (specializes on dry-stock farming in Priozersk area of Leningrad Oblast) has been made. It was comparted into 2 parts – the first was made in May and the second in the end of June 2021. The results of May inventory showed that some of the farm’s possessions were not registered as a property. Thus, the dry-stock farming complex was evaluated as «building materials» and the plot of land of 286,9 thousand square meters where the complex is located was not even listed in debtors inventory sheet. After both asset valuations the cost of «Urozhaynoe» LLC assets was estimated as 44 million rubles. According to other market players these assets are likely to be bought and reorganized into processing plant.
Sergei Bakeshin, Head of Dispute Resolution and Insolvency Practice at Maxima Legal, confirmed to Novy Prospect that comparted asset valuation is a common practice as «mostly assets are split into several lots and are sold separately».
Commenting the results of May inventory Sergei pointed out several reasons why such situation could have happened. «Maybe the new bankruptcy manager was not able to list the property in the inventory sheet on time. Or maybe the plot of land belongs to someone else» – said the expert. In his point of view, «asset valuation of a debtor is not obligatory but the bankruptcy manager has to have an inventory of assets».
Sergei also drew Novy Prospect’s attention to the court session scheduled on 19th of August. The Court will consider the application of one of the farm’s creditors – «VodokanalstroyAvto» LLC – for prescribing the assets selling procedures during which the creditor «will probably ask the Court to admit that the debtor has no whole property complex and will suggest selling assets in pieces».
To read the full article (in Russian) please go to Novy Prospect website >>>