Rus News Journal

On neftegazstroj will write off debts Rosneftegazstroja

management of the finance

the Federal commission on a securities market (Federal Commission on Securities) has finished one of these days Joint-Stock Company registration Concern of oil and gas building ` Neftegazstroj ` Open Society affiliated company Rosneftegazstroj (RNGS). neftegazstroj is created to be obankrochennym: on it debt RNGS under the credit taken by the company in 1996 for restoration of a road and gas economy of the Chechen Republic will be written off. In RNGS this assumption do not deny.
in 1996 RNGS on the instructions of the government and under guarantees of the Ministry of Finance has involved DM110 million (then about $70 million) for realisation of works on restoration of the Chechen Republic. As the agent on credit attraction Foreign trade and investment bank (veb) has acted: for this sum RNGS should receive a foreign special equipment - cranes, truboukladchiki, dump-body trucks and etc. the Equipment the Chechen Republic and is not has reached: It has not been cleared in time, therefore the State customs committee has sold it, having gained DM31,7 million ($20 million). In November, 1999 the Ministry of Finance of Russia has achieved a recognition of the judgement on a recognition before it of debt RNGS for the remained sum (about $50 million) and since then unsuccessfully tried to initiate its bankruptcy.
one month ago the government has written off on Chechen to contract RNGS debts under the customs duties, and also fines and penalties on them. On October, 20th the arbitration court of Moscow has suspended manufacture on the case of bankruptcy RNGS - because on October, 23rd the court should consider a certain statement of the Ministry of Finance to the company. That it for the statement (it and it has not been considered), do not open neither in the Ministry of Finance, nor in veb, in RNGS. And in the beginning of November of Federal Commission on Securities has registered concern neftegazstroj all of 100 which % of actions (for the sum of 100 thousand rbl.) Belong RNGS.
President RNGS Ivan Masur has declared: There is a process of the coordination of our positions with requirements of the Ministry of Finance. The Ministry of Finance does not agree that this debt has arisen not through our fault, on this theme have passed already tens judicial sessions. Everything that wrote earlier on this theme (about a conclusion ` Chechen ` a debt in ` Neftegazstroj `; see from September, 16th. - ), represents the facts . It is possible to assume that the Ministry of Finance has decided to start the mechanism of collecting of a debt with RNGS at which will go bankrupt neftegazstroj but will repay a debt the parent company.
PETER - SHOEMAKERS