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Court Introduces Surveillance Procedure at Asia Forest - EastRussia | Far East






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Court Introduces Surveillance Procedure at Asia Forest

Court Introduces Surveillance Procedure at Asia Forest

The Arbitration Court of the Khabarovsk Territory declared the statement of the VEB.RF State Corporation on declaring the Asia Forest company bankrupt. A surveillance procedure was introduced in her regard.

The court will approve the interim manager of the member of the Association of the inter-regional self-regulatory organization of arbitration managers "Assistance" Fedor Mereshkin. A court hearing on the results of the monitoring procedure will be held on April 7 2020 of the year.

In addition to bankruptcy, VEB.RF also intends to demand the recovery of more than three billion rubles from Asia Forest - this is almost two billion rubles of principal, 1,2 billion - interest on the loan and more than 420 thousand forfeit.

This year, law enforcement officers discovered fraud in the implementation of the Asia Forest project. According to investigators, the company, despite the failure to fulfill obligations for the development of woodworking in the Sunny region, received from the federal budget more than one billion rubles subsidies and illegally cut down the forest for more than nine million rubles.

Regional authorities excluded the project from priority list. The former director of the company became involved in cases of abuse of authority and fraud on a particularly large scale Alexander Pudovkin and ex-deputy chairman of the regional government Vasily Shikhalev.