Sergei Bakeshin has commented for Novy Prospect on the possible restructuring of debts of Sinyavinskaya poultry farm

In 2019, several creditors applied to a commercial court to declare bankruptcy of Sinyavinskaya Poultry Farm JSC, Russia’s largest egg producer.  As a result, an observation procedure was introduced at the request of the largest creditor, Sberbank, whose claims exceeded RUB 5bn. However, in April 2021, according to the Uniform Federal Register of Information about Bankruptcy, the meeting of the farm’s creditors made a decision to sign an amicable agreement with the debtor. At the same time the possible debt restructuring was discussed against a background of improvement of the financial condition of the poultry farm as well as against the statements of the market participants and regional authorities about the new owner of Sinyavinskaya – billionaire Alexander Usov, who already owns agricultural assets.

Sergei Bakeshin, Head of Dispute Resolution and Insolvency Practice at Maxima Legal, explained to Novy Prospect online edition that “the amicable settlement agreement can be approved at the court session, and the terms of the agreement will be set out in the ruling which will appear in a few days”.

To read the full article (in Russian), please see Novy Prospect website >>>