The missed payment to the bank under the loan agreement almost led a developer company to bankruptcy. The Moscow region business ombudsman Vladimir Golovnev managed the issue to be solved in positive way, and the story of a possible sad business closure turned into a happy end.

A limited liability company issued a loan agreement in the Srednerussky Bank of Sberbank of Russia for the construction of an apartment building and made a delay in compulsory payment.

According to the statement of Sberbank of Russia, by the decision of the Arbitration Court of the Moscow Region dated 03.07.2018, the company was declared insolvent (bankrupt), and a bankruptcy procedure was opened against it.

The management of the company appealed to the Commissioner with a request to assist in the preservation of business activities related to the construction of apartment buildings.

In November last year, a trilateral meeting was held between Alexander Tsapko, Deputy Chairman of the Srednerussky Bank of Sberbank of Russia, and Vladimir Golovnev, Commercial Director of the organization and Commissioner for the Protection of Entrepreneurs' Rights in the Moscow Region, in order to find a mutually acceptable solution related to the company’s overdue debt under the loan agreement.

- The construction industry is going through difficult times. The emerging difficulties in business negatively affect ordinary citizens - participants in shared construction. The Governor of the Moscow Region pays special attention to this issue. Therefore, it is important to find compromises, taking into account the interests of all participants in the process,” - Golovnev commented on the last meeting.

Following the discussion, representatives of the bank and the construction company came to a mutual agreement on the transfer of residential apartments in a residential building already built and commissioned to ensure the fulfillment of obligations to pay the debt, and in case of insufficient apartment prices, part of the built-in non-residential premises.

Representatives of the company initially did not agree with the price set for non-residential premises pledged to Sberbank, but joint consultations allowed to resolve existing contradictions, which ultimately led to the sale of property.

On April 18 of this year, the company's management received an official paper from Sberbank about the absence of debt under the loan agreement.

FOR REFERENCE: As of May 1, 2019, 54 developer companies are in the bankruptcy stage in the Moscow Region. According to the General Directorate of State Construction Supervision in the Moscow Region, among the main reasons for introducing a bankruptcy procedure for developers is failure to fulfill obligations to creditors and co-investors, failure to pay taxes and fees.