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Sberbank sued the Yakutia fuel and energy company because of debts - EastRussia | Far East

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Sberbank sued the Yakutia fuel and energy company because of debts

Sberbank sued for 4,4 billion rubles on the Yakutsk Fuel and Energy Company (YATEK), which is controlled by the co-owner of the Suma group Ziyavudin Magomedov, accused of creating a criminal community. YATEK delayed payment of one of the loans.

As the Kommersant, Sberbank said that the filing of claims is related to the non-fulfillment of YATEK's payment obligations to the bank, but this does not prevent further dispute settlement by the parties. According to the publication, it can be a debt of 300 million rubles - this is the balance of a three-year credit line of the bank for 1,5 billion rubles, opened in August 2015 year. The loan had to be repaid before 13 August, default could cause cross-default on other loans of the bank. Summa said that they are negotiating to restructure this debt and hope for a positive resolution of the situation.

YATEK has a high debt load: the total debt is 14 billion rubles, of which 8,6 billion rubles account for long-term debt. According to data for 1 July, Sberbank accounted for about 6,25 billion rubles of debts, VTB - 5,1 billion rubles. Also, Russia's structure of the Chinese Bank of China (0,9 billion rubles) and Svyazbank (0,5 billion rubles) are major creditors. In addition to loans, YATEK has about 1,2 billion rubles in accounts payable. The reason for the debts is the lack of funds, the report says. After the arrest of Ziyavudin and Magomed Magomedov at the end of March, YATEK's accounts, like most of Summa's other assets, were seized.