MOSCOW, October 4 – RIA Real Estate. A month later - from November 2017 - in Russia there was a compensation fund designed to protect Russians who decided to purchase housing in a new building from the financial problems of the developer. It is expected that the fund will help in case of difficulties for the developer to complete the house or pay compensation for the housing not received. Before this, in our country more than once or twice there were cases of freezing of construction projects and the appearance of defrauded shareholders. Especially for the RIA Real Estate website, the Rating Agency of the Construction Complex (RASK) prepared the ten largest bankruptcies among housing developers in the Russian Federation, and experts explained what caused them.
First of the last
Almost 40 thousand people suffered in Russia due to the largest bankruptcies of developers over the past 10 years, according to the results of a RASK study available to RIA Real Estate.
According to the findings of RASK, the “leader” in the sad ranking of bankrupt developers in the housing market is the SU-155 group, due to whose financial problems 30 thousand people were among the affected co-investors. Currently, the completion of the company's facilities is being carried out by the Russian Capital Bank, which should complete the completion of the houses in 2018.
Further on the list of the largest developer bankruptcies, the rating agency puts Sergei Polonsky's Mirax Group. As objects for which buyers of new buildings did not receive housing on time due to company problems, RASK indicates the residential complexes "Kutuzovskaya Mile" (residential complex "Triumphalny Quarter"), "Rublevskaya Riviera", "Well House on Dubrovka" ("Dubrovskaya Sloboda" ") and "Mirax Park" in Moscow - a total of more than 600 thousand square meters. At the same time, Polonsky's lawyer Roman Kotelnikov emphasizes that the residential complexes "Mirax Park" and "Dubrovskaya Sloboda" were commissioned "in accordance with the established procedure" long ago. In the "Rublevskaya Riviera", According to Kotelnikov, only three people are included in the official register as injured shareholders, and the Kutuzovskaya Mile complex is being handled by another developer - the FCSR company, to which its principal has no relation.
The top five largest bankrupt developers over the past 10 years also included the Skyscraper GB Group of Companies, known for its Novo-Nikolskoye residential complex in new Moscow (800 shareholders were affected), and the Premier Development Management Company (1 thousand shareholders were affected).
Finally, in the top 10 largest bankruptcies among housing developers according to RASK were companies such as Aleutstroy JSC (former Housing Capital group - 1 thousand shareholders), Mosoblzhilstroy Development LLC (2 thousand shareholders), SFK CJSC Reutovo" (1 thousand shareholders) and LLC "Sabidom-invest" (77 thousand square meters, 1 thousand shareholders). All of them worked in the Moscow region - in Reutov, Odintsovo, Ramensky and Solnechnogorsk regions.
The only residential developer included in the list of the largest bankrupts and not representing the Moscow region was Solnechnaya Dolina LLC. According to RASK, 600 shareholders suffered from the financial problems of this company.
| № | Company | Portfolio volume, thousand sq. m. | Objects | Interest holders/shareholders were affected | Was the construction insured? | Status |
| 1 | SU-155 | 2 100 | 145 houses in 14 regions of the Russian Federation | 30 000 | Yes, SSG | The Russian Capital Bank is financing the completion; it is planned to complete the construction of all facilities by the end of 2018. Of the 145 houses, 70 have already been completed, and 15 houses in the Moscow region have been transferred to another developer. In the Kaliningrad and Vladimir regions, construction has been completely completed. |
| 2 | Mirax Group ("Stream") | 920 | Residential complex "Kutuzovskaya Mile" (residential complex "Triumphalny Quarter"), residential complex "Rublevskaya Riviera", residential complex "Well House on Dubrovka" ("Dubrovskaya Sloboda", residential complex "Mirax Park" in Moscow | As of October 1, 2017, the official register of affected citizens included 3 people in the Rublevskaya Riviera residential complex. | No | The Dubrovskaya Sloboda residential complex was commissioned at the end of March 2012. The Mirax Park residential complex was commissioned in April 2012. The completion of the construction of the Kutuzovskaya Mile residential complex is being carried out by FCSR CJSC; it is planned to transfer the facility to shareholders by March 2019. The Rublevskaya Riviera project was transferred to the AEON corporation. According to the company’s website, the facility is planned to be built before the end of 2020 |
| 3 | LLC "Transfort" | 251 | Residential complex "Vysokiye Zhavoronki" in the Odintsovo district of the Moscow region | 1500 | Yes, RINKO | The facility was transferred to the SU-22 company |
| 4 | GC "Skyscraper GB" | 175 | Residential complex "Novo-Nikolskoye", residential complex "Solnechny" in the TiNAO Moscow | 800 | Yes | Sberbank has opened financing for the completion of three apartment buildings (Nos. 7, 8, 9) of the first stage of the construction of the Novo-Nikolskoye residential complex |
| 5 | Management Company "Premier Development" | 121 | Residential complex "Swan Lake", Solnechnogorsk district, Moscow region | 1000 | No | |
| 6 | JSC "Aleutstroy" (GC "Housing Capital") | 117 | Residential complex "Hussar Ballad" in the Odintsovo district of the Moscow region | 1000 | Yes, OBC | The facility was transferred to Ingrad Group of Companies and is scheduled for completion in 2018. |
| 7 | LLC "Sunny Valley" | 110 | Cottage village "Dubrava" in the Valzhsky district of the Samara region | 600 | No | A monitoring procedure was introduced in relation to the company on October 4, 2016, and Svetlana Vladimirovna Kostareva was approved as temporary manager. A new investor is currently being sought to complete construction. The Ministry of Construction of the Samara Region has reached an agreement in principle with a potential investor on the construction of an electrical substation on the territory of the village of Zayarye, which will provide the village with communications and will make the sites, from the point of view of the department, more attractive for completion. |
| 8 | LLC "Mosoblzhilstroy Development" | 81 | Residential complex "Rodniki" in the Ramensky district of the Moscow region | 2000 | Yes, IC "Vozrozhdenie" (IC became bankrupt, license revoked) | |
| 9 | JSC "SFK Reutovo" | 79 | Residential complex "Nekrasovsky", residential complex "South Star" in Balashikha in the Moscow region | 1000 | No | Facilities completed by FSK "Leader" |
| 10 | LLC "Sabidom invest" | 77 | Residential complex "White City", "German Village" in the Solnechnogorsk district of the Moscow region | 1000 | No | The Bely Gorod residential complex was transferred to Urban Group, construction is scheduled to be completed in 2018. In the German Village residential complex, Urban Group acts as a technical customer and general contractor for the project, and also provides assistance to equity holders in developing an architectural concept, designing and organizing sales. |
Source: data from RASK, Moskomstroyinvest, Urban Group, Ingrad, Russian Capital Bank, AEON website, Administration of the Governor of the Samara Region.
Insurance that does not insure
The rating agency's materials indicate that only half of the largest bankrupt developers in Russia insured their risks - many problematic developers found themselves in a difficult situation even when the legislator did not oblige them to do so.
Moreover, in the case of SU-155, it was essentially about insuring oneself: the insurer of the country’s most famous problematic developer was SSG, a company affiliated with the main owner of SU-155, Mikhail Balakin. The press service of the Russian Capital bank says that the group sold apartments to equity holders under 19 different schemes, bypassing the requirements of 214-FZ.
“But even in cases where developers acted within the framework of 214-FZ, shareholders were not protected: the insurance companies that insured the liability of developers of the SU-155 Group of Companies lost their licenses even before the project was transferred to RosKap,” the bank complains.
“The mechanism for insuring developers in a global sense did not work as expected when it was created. Despite a fairly clear scheme of insurance and payments in the event of insured events, in practice, developers and shareholders received a very complicated mechanism: large insurance companies did not express a desire to insure the liability of developers "Because of the threat of large losses, they offered fairly high rates. Small insurance organizations could provide a low rate, but could not provide high-quality underwriting and loss settlement, since they themselves did not have sufficient insurance reserves," complains Artem Azizbaev, director of the legal department of Ingrad Group of Companies.
Managing partner of the Metrium Group company, Maria Litinetskaya, states that a situation has arisen in which in Russia “not the most reliable developers turned to not the most reliable insurance companies.” “Many years of litigation began, during which construction was frozen, and people were left without money and apartments,” the expert recalls.
In turn, the Association of Developers of the Moscow Region calls the insurance market for housing developers “difficult to predict.” “The tariff policy of insurance operators changed every year, calculation formulas were regularly revised. Frequent cases of bankruptcy of insurance companies also did not add optimism,” the association notes.
Today, according to AHML and the Ministry of Construction, insurance companies have collected about 20 billion rubles in insurance premiums from housing developers, but cases of compensation payments are rare.
“As practice has shown, during the entire existence of 214-FZ, not a single insurance company has paid compensation for those unfinished objects that it insured,” emphasizes the press service of the Fund for the Protection of Shareholders.
As Litinetskaya emphasizes, the risk insurance mechanism itself for a new building is also imperfect, when the bankruptcy of the developer is considered an insured event, and at the stage of introducing bankruptcy proceedings. “Several years may pass between the delay in delivery of the project and the start of bankruptcy proceedings. Therefore, insurance money is no longer able to change the situation for the better, and the project turns into a long-term construction project,” she states.
This position is supported by Yana Maksimova, director of information policy and PR at Urban Group. “According to our estimates, insurance companies always had no more than 2-3 billion rubles in their reserves, which is clearly not enough,” she calculates.
As RASK General Director Nikolai Alekseenko sums up, the insurance market in Russia for residential construction projects “has not developed as such.” “Only narrow-profile insurance companies were formed, the volumes of which could not cover potential liabilities,” he states.
Who is guilty
Errors in financial planning and deterioration in the financial position of the developer are the most common causes of bankruptcy among developers, which RAS cites in its rating. There is one exception in the rating: in the case of the Skyscraper GB group, when the developer’s problems arose due to a conflict between the co-founders.
“The reasons for the occurrence of long-term construction may be different,” agrees the director of strategic development of FGC “Leader” Pavel Bryzgalov (completed the Nekrasovsky residential complex, the Yuzhnaya Zvezda residential complex). “However, the main reason is still an incorrectly structured financial business model, as a result why the developer simply doesn’t have enough money to build the facility.”
But Maksimova believes that the problems of housing developers are individual, and each situation should be considered separately. For example, in the case of the Sabidom company, instead of which the Urban Group is completing the construction of the White City residential complex, the reasons for bankruptcy are being investigated by the Moscow Regional Prosecutor's Office as part of a criminal case. RASK carefully describes such situations as “misappropriation of money.” It is not surprising that for the three construction companies that found themselves in the top ten largest bankrupts, there is a gap opposite the status of the project - the fate of their unfinished residential complexes, alas, is still a big question.
What should a shareholder do if the delivery of the house is delayed?Postponement of the delivery date of a new building is the main headache for home buyers. The RIA Real Estate website, together with experts, explains why the commissioning of housing may be delayed, what cases may be a cause for concern, and what to do in such situations.True, according to a number of interlocutors of RIA Real Estate, it is not always the fault of an unscrupulous or poor-thinking developer.
For example, the Association of Developers of the Moscow Region (remember, 6 out of 10 developers in the top 10 largest bankrupts worked in the Moscow region) say that difficulties for construction companies are usually caused by high interest rates on loans, a heavy load on the construction of social facilities and "incredibly high" fee" for changing the type of permitted use of land.
And Litinetskaya even recalls that one of the main characteristic features of the current recession in the housing market has been the “migration” of home buyers from one region to another.
“If before the crisis, the Moscow region accounted for 81% of equity participation agreements concluded in the capital region, and Moscow - 19%, then at the end of the first half of 2017 the ratio changed. Now the capital accounts for 35% of demand, and the Moscow region - 65%. Since prices in Moscow have decreased, the volume of supply has increased not only quantitatively, but has also undergone qualitative changes (Euro-format apartments and studios with an affordable purchase budget have appeared). This has caused an outflow of buyers from the region to the capital. In the Moscow region, demand has practically not grown since the beginning of the crisis, that is why the financial sustainability of many projects has been shaken,” she claims.
Will the compensation fund save everyone?
All experts believe that the risk insurance mechanism in the compensation fund, which will begin operating in Russia in November, is the best protection for buyers of new buildings. There is, however, one caveat: for some time there will be a transition period in the country, during which it will be possible to buy both apartments protected by the compensation fund and apartments whose risks are insured.
The difference is when the first sales of the house began: if before November, then the project is insured, if after, then it is protected by the Fund for the Protection of the Rights of Shareholders.
The fund itself describes its future work as follows: “The operation of the mechanisms as a whole will be similar to the work of the Deposit Insurance Agency in the banking sector. At the same time, the fund, in addition to the payments provided for by law, has in its arsenal of tools the ability to make decisions on the completion of problem facilities. The shareholder receives a guarantee that the housing in which he invested his money will be built. In extreme cases, he will receive the invested funds back."
A representative of the fund hopes that the creation of the organization will help alleviate citizens’ concerns regarding the purchase of housing under construction and will further revive demand in the housing market in Russia. At the same time, according to him, taking into account the construction cycle in the country of 2-3 years, the first problematic objects for which the fund will guarantee assistance will appear after a sufficient amount of funds has been accumulated in its accounts.
“The compensation fund is a more effective measure to protect the rights of shareholders compared to insurance, which could not fully compensate for the risks in the event of an insured event. The amount collected already in the first year of the fund’s existence, according to Urban Group estimates, will be enough to compensate for the costs shareholders in the bankruptcy of several medium-sized regional developers at once,” says Maksimova.
The Association of Developers of the Moscow Region believes that the fund will be able to confidently rehabilitate problematic properties starting from the third year of its existence, that is, in 2020. “The stability of the primary housing market in difficult economic conditions is the main meaning of this innovation. As a result of the creation of a compensation fund, the developer will no longer be dependent on insurance companies and on changes in tariffs, since contributions will be charged once and for the entire period of validity of the DDU,” emphasizes the representative of the association .
He also adds that the advantage of the fund mechanism, of course, is that its task will be not so much the reorganization of unscrupulous companies, but rather the completion of the construction of problematic facilities and control over the transfer of apartments to shareholders. State status will allow the new organization to raise funds from the budget in cases where the funds collected are not enough, Maksimova hopes.
The buildings of Moscow State University, the House of the Government of Russia, the Cathedral of Christ the Savior, the memorial on Poklonnaya Hill - these and other buildings that determine the architectural appearance of Moscow were erected by Mospromstroy, one of the leading capital construction companies. Today she is actively involved in city programs, for example, in the construction of metro facilities. Its general director, Shagor Stepanyan, talks about the company’s current construction projects and future projects.
The history of the company begins on July 27, 1972, when the Main Directorate for Industrial Construction of the City of Moscow (Glavmospromstroy) was created, the legal successor of which is Mospromstroy. He has completed over two thousand constructed and reconstructed projects and millions of square meters of housing. Mospromstroy is part of the Safmar industrial group, owned by Mikhail Gutseriev.
– Shagor Gennadievich, using the projects implemented by Mospromstroy, you can study the history of Moscow.
– Yes, over 46 years the company has made a huge contribution to the development of the capital, and it is a great honor for me to lead it. We have always been entrusted with the construction of important objects: the Palace of Congresses, the Ostankino television center, high-rise buildings on Novy Arbat, the ZIL and Hammer and Sickle plants, TASS and the Ministry of Internal Affairs buildings, embassies, hotels. We built Zelenograd practically from scratch.
The company paid great attention to social facilities. We are responsible for the reconstruction of the First City Hospital, the construction of the Speech Pathology Center, dozens of clinics and ambulance substations.
Relatively recently, we completed the dismantling of the 14th building of the Kremlin and carried out landscaping of the territory of the Alexander Garden.
– Tell us about the priority areas of activity.
– Now in the capital special attention is paid to the development of the transport system. As Moscow Mayor Sergei Sobyanin recently stated, cities should develop for the sake of their residents, that is, for the sake of Muscovites and guests of the capital. The World Cup proved the correctness of this idea: transport brilliantly coped with the increased passenger traffic.
Thanks to the efforts of government and business, our transport is among the top three best systems in the world. As Russian President Vladimir Putin said, Moscow sets the standards for the development of modern megacities. And I am glad that our company is making its contribution to the creation of a new transport framework for our city.
The first project we implemented was the expansion of the Pechatniki electrical depot. The quality of the work was highly appreciated by Sergei Sobyanin, and Mospromstroy was assigned other projects.
We recently completed the construction of the Likhobory and Mitino electric depots, and are now working with the Nizhegorodskoye and Vladykino depots. We will soon begin work on the Sokol electrical depot. In addition, we are building the Stakhanovskaya station on the new Kozhukhovskaya line.
– You were appointed to this position six months ago. What results have you achieved during this time?
– I began my activities by resolving the accumulated claims that some customers brought against us; We signed settlement agreements with the majority and paid off our obligations. Then we formed a new team of managers and began to build smooth relationships with contractors, improving the quality of work and meeting deadlines for the delivery of objects.
All this is done with the ultimate goal of becoming one of the most technologically advanced and efficient companies in the construction industry. We have all the capabilities for this: for example, we were one of the first to master BIM design, which involves comprehensive processing of all information about the building and its environment during design. The transition to a new system is a complex and costly process that large construction corporations can do, but in the end it will serve as a guarantee of quality for investors, clients and buyers.
We own a huge fleet of modern construction vehicles (tower cranes and hoists, truck cranes and loaders, bulldozers and pile drivers), equipped with the GLONASS satellite monitoring system. The machines do not stand idle - in addition to our own needs, we satisfy the requests of other construction companies by providing equipment for rent. This is one of the profitable areas of our activity.
– What are the company’s financial performance now?
– From January to July of this year, Mospromstroy’s order portfolio increased one and a half times – from 27 to 42 billion rubles. The share of government orders for the metro in the portfolio is now approximately 35%. And we plan to double the annual volume of commercial orders. By the way, among the interesting commercial projects, I would like to note the construction in Skolkovo of the building of the Pipe Metallurgical Company and a musical theater, which will house Cirque du Soleil, as well as the residential quarter "Park of Legends" next to the MCC "ZIL" station and the "Spanish Quarters" in New Moscow for A101, apartment complex in Khamovniki RozaRossa.
– Amendments tightening the rules for shared-equity construction recently came into force. How would you comment on them?
“This, according to the Ministry of Construction, will be an incentive to work with escrow accounts, which are a tool for the transition from shared construction to project financing. Banks will store money received from the sale of apartments in these accounts until construction is completed. This system is new for the construction industry of our country: of course, the cost of projects may increase, but the funds of clients (shareholders) will be protected from waste by unscrupulous companies, and the financial security of people is the main priority of the government’s economic policy, and we support it.
– Do you plan to take part in the renovation program?
– In the future, yes. We are ready for responsible work - the whole history of Mospromstroy speaks about this, because our company, as its motto says, creates the silhouette of Moscow. And renovation is the creation of a new image of the capital, which we have been doing throughout our history.
At the next board of directors of the Safmar group, Mikail Shishkhanov will leave the board. Earlier it became known about the businessman’s resignation from the boards of directors of M.Video, RussNeft and Safmar Financial Investments.
Mikail Shishkhanov (Photo: Sasha Utkin for RBC)
At the next board of directors of the Safmar group, which will be held before the end of the year, Mikail Shishkhanov will be excluded from its membership, a source close to the group told RBC, and a representative of Safmar confirmed. On the group’s website, Shishkhanov is no longer mentioned as a member of the board of directors, but in SPARK-Interfax materials he is still listed as a member of the board of Safmar Group JSC.
Family contribution
The Safmar group (the name is derived from the names of the parents of the group founder Mikhail Gutseriev - Safarbek and Marem) since 2015 began consolidating the assets of the Gutseriev family - Shishkhanov, with the exception of B&N Bank. According to Forbes, the total fortune of the Gutseriev family clan in May 2017 was $9.91 billion. In addition to Mikhail Gutseriev, the magazine traditionally includes his brother Sait-Salam, son Said, as well as nephews Bilan Uzhakhov and Mikail Shishkhanov in the “clan”. “Family does not mean that money is shared,” Shishkhanov said in an interview with Vedomosti. - This is not a mafia clan, in which all the money is on one table and we divide it as we want. I am an independent entrepreneur, we coordinate so as not to compete: they [the Gutseriev family] were not involved in banking, I was not involved in oil.” Outside the family, Shishkhanov’s personal wealth was estimated in 2017 at $2.3 billion, Mikhail Gutseriev’s at $6.3 billion.
Video: RBC
The decision to resign from the board of directors of Shishkhanov was made due to the fact that the businessman, since the summer of 2017, is no longer among the shareholders of any company that is part of the group, a Safmar representative explained to RBC. In September, in an interview with RIA Novosti, answering the question whether the businessman still had any share in the Safmar group, Shishkhanov himself replied that, “unfortunately, he did not.” “I completely sold off my assets. If there is something left, then there is 0.001%,” he added, without specifying what kind of “residues” we might be talking about in which projects. In October, in particular, it was known that Shishkhanov left the shareholders of M.Video. By the end of the year, he will leave the boards of directors of this retail chain, as well as the company and Safmar Financial Investments (manages Safmar's leasing and pension assets). The Board of Directors of PJSC Mospromstroy, which was held on October 6, made a decision on its new composition - and Shishkhanov is also not on the list of candidates.
Earlier, RBC reported that “Shishkhanov’s assets remained in the Gutseriev family.”
What does Safmar manage?
Until 2015, the assets of the Gutseriev-Shishkhanov family were united under the name “BIN group”. Now all Safmar assets are divided into six divisions: industrial (RussNeft, Neftissa, ForteInvest, Russian Coal, Slavkali companies), financial (Safmar Financial Investments PJSC), retail (M .Video" and "Eldorado"), construction and development (PJSC "Mospromstroy", A101), commercial real estate (43 shopping and business centers) and hotel business (nine hotels in Moscow and two in the CIS). In an interview with Vedomosti in August, Mikhail Gutseriev clarified that the formation of the Safmar group has not yet been completed. “The work is underway, and by the end of the year we will have a strict management vertical. There will be general reporting, the group’s turnover will be just over 1 trillion rubles,” Gutseriev explained at the beginning of 2017.
To keep distance
“The initiative to withdraw from all of Safmar’s assets and formally distance itself from the Gutserievs came from Shishkhanov,” one of the family’s acquaintances told RBC. “After the problems began at B&N Bank, and their scale became clear by the summer, Mikail was very worried in personal conversations that the story with the bank could negatively affect his uncle’s family and their relationships.” Publicly, answering a question in an interview with Vedomosti after the start of the reorganization of B&N Bank about how his relationship with Gutseriev is now, Shishkhanov said that he was “ashamed” of Gutseriev. “He worries about me. I’m very worried that this is connected with his name,” said the businessman.
At the end of September, Binbank, in which Shishkhanov is the main shareholder (he owned 67.967% of the bank’s shares), and Gutseriev is a minority shareholder (28.488%), announced the reorganization of the bank under a new mechanism - with direct participation of the regulator as an investor through the Banking Sector Consolidation Fund. Now a temporary administration has been introduced at the bank, following the results of which the bank’s shareholders can again receive part of this business. But Shishkhanov, in an interview with Vedomosti, promised to leave the banking business: “I definitely didn’t deserve this 25% [of the bank’s shares after the reorganization].” “In a year, two or three - as long as it takes - I will do everything as the Central Bank says, so that there are no questions for me. And then I’ll find myself in some other business. Maybe in industry,” the businessman reasoned. A quarter of B&N Bank’s business, according to him, “deserved the minority shareholder who gave a lot of money to the capital a year ago,” meaning his uncle Mikhail Gutseriev - he invested about $300 million in the troubled bank in 2016 in exchange for a minority stake and even for some time he headed its board of directors.
At the beginning of the reorganization of Binbank, it was discussed that part of the hole in the bank’s capital would be reduced by transferring to its balance sheet by the former owners of their other assets. Last week, on October 31, Deputy Chairman of the Central Bank Vasily Pozdyshev announced the beginning of the transfer of such non-bank assets of the owners of the sanitized B&N Bank to its balance sheet. “There are real estate assets. Specifically, in the list of transferred assets there are securities of Inteko, A101, RussNeft, broiler production plants, cement plants, sawmills, nanotechnologies - a large volume of non-core assets for the bank,” Pozdyshev said. How many specific shares of Inteko, A101 and RussNeft were transferred to B&N Bank is not reported.
“As part of the reorganization of B&N Bank, Shishkhanov repeatedly said that he was ready to transfer all personal assets to restore the situation in the bank. Many of Safmar's assets are highly liquid, and there are public companies. But if the Central Bank suddenly decides to use them during the reorganization procedure, this could have a negative impact on these companies, since it is difficult to assess the effect if the shareholder is a non-core regulator, an investment banker familiar with the situation told RBC.
The regulator did not explain on what basis the final list of assets that will be transferred to the Central Bank as part of the reorganization will be determined. “The provisional administration of the bank has the right to challenge transactions concluded [by shareholders or persons affiliated with them] within one year before the date of appointment of the provisional administration. If such transactions are considered suspicious, or can be regarded as providing an advantage to any of the creditors, or are made to the detriment of the interests of the bank, then such transactions can be challenged,” says Igor Dubov, partner of the Moscow bar association “Iontsev, Lyakhovsky and Partners”. .
She worked at PIK Terminal Mospromstroy LLC from 05/17/2018 to 07/16/18 as a leading cost estimate engineer (Founder of the company PJSC Mospromstroy). This company fails to pay wages on time, with a delay of a month or more. I have repeatedly witnessed that the Chief Accountant A.A. Malikova and the Head of the Economic Department O.Yu. Budaeva, by order of the General Director A.V. Khadzhibekyan, underestimated the wages of workers - from the site only information about the hours worked is received for workers, but in the office when calculating wages, their salary is underestimated, the worker works for several months; when fired, they calculate for several hours of work - I warned General Director A.V. Khadzhibekyan about this situation in the company. Customers pay on time for KS2, KS3. The founder of the Company is a large construction company PJSC Mospromstroy. Many employees have 3-month contracts. I was given a warning about the termination of the Employment Contract on July 13, 18. In the presence of 10 people who were in the office, they refused to show memos, and on July 16, the Contract was terminated under Article 71 Part 1 due to improper performance of duties and memos of employees were shown: (Chief Accountant Malikova A.A., Volynkin I., former head of the estimate and contract department Chernoskutova T.G., Head of PEO Budaeva O.Yu., Danitskaya S.V., Vasilyeva O.E., Lawyer Sizova N.N.) Khadzhibekyan A. On the last day of my work, I reported that the company PIK Terminal Mospromstroy wins all the cases.
I filed a lawsuit against my employer. There were three hearings. The employer did not appear at the first meeting. Lawyer N.N. Sizova came to the second hearing as a defendant, the judge did not question my witness, the court hearing was postponed due to the lack of witnesses on the part of the defendant - But after the hearing the most interesting thing began, we left the hall and after 5 minutes returned back there lawyer Sizova N.N., I came to pick her up to hear what she would talk about with the judge. And then the door behind the judge opens and my employer, General Director A.V. Khadzhibekyan, the system administrator and other employees of the company come out, since there were already other people present in the courtroom, naturally they turned out to be witnesses to what was happening. This is a meeting room in which only the judge can be present, but not outsiders, as the lawyer later explained to me. There were inconsistencies in the documents handed over to me by the lawyer in court: In the act drawn up and signed by the General Director dated July 12 with a request to conduct an audit of the internal notes, there was a list of official notes that were written only on July 13, notes from employees that were not previously available were added.
At the third meeting I lost the trial. Chernoskutova T.G. I was amazed by the false testimony. I hope the review will be useful.
I hope everything is fine there and this is not a liquidation of balances, but a restructuring of the business
2.3. Agenda of the meeting of the issuer's board of directors:
1) On approval of the actions and decisions of the General Director of PJSC Mospromstroy when he makes a decision on behalf of PJSC Mospromstroy as the sole shareholder of CJSC MPS-GRAND on the issue of consent to a major transaction.
2) On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... ZAO MPS-STAR on the issue of consent to a major transaction.
3) On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... ZAO MPS-LUX on the issue of consent to a major transaction.
4) On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... CJSC MPS-FOREST on the issue of consent to a major transaction.
5) On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... CJSC MPS-MIR on the issue of consent to a major transaction.
6) On approval of the actions and decisions of the General Director of PJSC "Mospromstroy" ... CJSC "GRAND-HOTEL" on the issue of consent to a major transaction.
7) On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... LLC Hotel Aurora-Lux on the issue of consent to a major transaction.
On approval of the actions and decisions of the General Director of PJSC Mospromstroy ... LLC Mospromstroy Hotel Management on the issue of consent to a major transaction.
...
10) On consent to enter into a transaction in which there is an interest – conclusion of an Agreement on termination of obligations by novation between PJSC Mospromstroy (Creditor) and OJSC SADKO HOTEL (Debtor).
11) On approval of the actions and decisions of the General Director of PJSC "Mospromstroy" ... OJSC "SADKO HOTEL" on the issue of consent to a transaction in which there is an interest.
12) On approval of a transaction in which there is an interest – Compensation agreements between PJSC Mospromstroy (Debtor) and JSC ROST BANK (Creditor).
13) On approval of a transaction in which there is an interest – Innovation Agreement No. 3 between PJSC Mospromstroy (Borrower) and PJSC BINBANK (Bank).
14) On approval of a transaction in which there is an interest – Innovation Agreement No. 4 between PJSC Mospromstroy (Borrower) and JSC ROST BANK (Bank).
15) On approval of a transaction in which there is an interest – Compensation agreement dated December 29, 2016 between PJSC Mospromstroy and LLC Promstroyinvest - Kaluga.
16) On the approval of transactions with real estate - the conclusion of Agreements for the purchase and sale of non-residential premises between PJSC Mospromstroy (Buyer) and LLC ServicePromStroy-2000 (Seller).
