RBC has quoted Sergei Bakeshin commenting on the winner’s challenge to the tender results

Sergei Bakeshin - Counsel

Transagro Agrarian Corporation, which in September 2022 won the auction for the sale of the Luzhsky Feed Milling Plant property, is trying to abandon the deal. On the grounds that the agent who represented it had offered an unapproved “unreasonably high price” of RUB 350m, the company requests that the results of the procedure be declared invalid. However, according to the Unified Federal Register of Bankruptcy Information, the company offered about RUB 252.3m for the property of the mill.

According to Sergei Bakeshin, Senior Associate and Head of Dispute Resolution & Insolvency practice at Maxima Legal, it is unlikely that the results of the auction will be challenged. “According to all reports, both on the Unified Federal Register of Bankruptcy Information and Alfalot trading platform the winner offered a price of RUB 252.29 m,” – quoted the expert to RBC.

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