The Project Manager for bankruptcy cases Aleksey Altuhov about bankruptcy of individuals

The Project Manager for bankruptcy cases Aleksey Altuhov about bankruptcy of individuals

The Project Manager for bankruptcy cases Aleksey Altuhov about bankruptcy of individuals

“Sberbank has filed a petition in bankruptcy of Vladimir Kehman to Arbitration Court in Saint -Petersburg and Leningradsky region”, told the person who is close to the creditor. The representative of Sberbank confirmed that, but didn’t give any other comments. The Chairman of the Court withheld comments.

Kehman is a guarantor of loans taken by the holding JFC established by him. In 2011 the company, the biggest fruit importing company hitherto, suffered from disorders in Southern Mediterranean and was not able to service the loans. Now JFC’s (the leading division of the holding) debts are more than 18 billion roubles: 6 billion roubles to Sberbank, 4.49 billion roubles to Bank of Moscow, 1.7 billion roubles to Promsvyazbank, 1.5 billion roubles to Uralsib Bank, 0.9 billion roubles to Raiffeisenbank. Mr. Kehman paid off a part of JFC’ debt and now he claims 100 mln. roubles.

Bankruptcy proceedings are initiated in all of the bigger companies of JFC - Cargo JFC, Bonanza International, Titan and their property is sold for benefit of creditors. At the same time the banks have been searching for and trying to sell the property of Mr. Kohman. They managed to put hands on some of his property - e.g. Bank of Moscow took possession of Kehman’s banana plantations in Ecuador and sold part of them. Sberbank has had a chance to own and sell Frunzensky department store in Saint-Petersburg; the business-centre Airplaza near Pulkovo was also sold in favour of Sberbank.

In the 1st of October, 2015 the Personal bankruptcy law came into force in Russia. It makes possible for an individual, creditors or authorised authorities to present a debt restructuring plan to creditors and they may agree or not with it. “In the latter case the person is declared bankrupt and his property is to be included into the bankruptcy estate to satisfy the creditors’ claims”, explains the content of the law the Project Manager for bankruptcy cases of Pavlova&Partners law firm Aleksey Altuhov.


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