Sergei Bakeshin has commented for Kommersant on the attempt to bankrupt a former general director of Lenfilm and co-owner of Kino City cinema chain     

Moscow-based leasing company, Solid-Leasing, is seeking a bankruptcy of Eduard Pichugin, former general director of Lenfilm and co-owner of a federal cinema chain Kino City. The total amount of the creditor’s claims under the bankruptcy petitions of the businessman and Kino City LLC controlled by him is RUB 14.3 million.

According to Sergei Bakeshin, Head of Dispute Resolution and Insolvency practice at Maxima Legal, filing two bankruptcy petitions is an economically feasible solution. “If it is a way to put pressure, it is better to put pressure on all fronts. And if it is a way to enforce collection, it makes no sense to give Eduard Pichugin extra time for possible concealment of property,” the expert explained to Kommersant newspaper.

Sergei also suggested that the creditor is likely to accept a reasonable and guaranteed offer to restructure the debt. However, according to the expert’s assessment, the leasing company may be more sceptical about the new offer, because Kino City LLC and Eduard Pichugin have previously breached a settlement agreement with Solid-Leasing.

To read the full article (in Russian) please visit Kommersant website >>>