Do You Want to Return Your Money? Arrest Your Debtor’s Mercedes! - 26 December, 2002

The Krasnoyarskenergo company has finally paid its dept to the colliers in full. Now the coal company Baikal-Ugol will settle scores with Russian Stock Company United Energy systems of Russia.

According to the coal company Baical-Ugol press service, energy company Krasnoyarskenergo has finally completed paying off its 53-million debt to the coal open-pit mine Borodinsky. As it became known, to bring the many-year debtor to reason, it was enough just to ask the court police to arrest the favourite car of the energy company chief. Other Russian creditors, I believe, will not fail to use this effective method.

The day before yesterday, Krasnoyarskenergo transferred 13 million rubles (approximately 4 million dollars) on the account of the coal open-pit mine Borodinsky towards the energy company 53.6-million debt. Now, the energy company seems to have no debts before the coal company. Though, is it really so?

The court decision about collecting 53.6 million rubles from Krasnoyarskenergo was put into effect already January 25, 2002. Though, the energy company tried to call this decision, including the sum of the debt,  in question. The payment started only in 10 months after the court decision was issued. While to further this decision realization, the Krasnoyarsk Region governor, Alexandr Khloponin must have interfered in the case, who plaid a kind of arbitrator in the dispute between the two companies.

Therefore, the coal company official reports, the energy company cars and property (which was found in the office) was arrested.  Though, Krasnoyarskenergo had also additional financial losses: besides the payments to the coal company, Krasnoyarskenergo had also to pay executive duty of 7 percent of the debt.

The Rusuglesbyt company which sells all the coal mined by Baikal-Ugol will now more actively exact debts from its debtors. Its today’s target are energy establishments which belong to the system of Russian Stock Company United Energy Systems of Russia. The total sum of their debt makes now more than 2 billion rubles (approximately 670 million dollars.

According to the Baikal-Ugol press-release, some of the energy establishments behave correctly in settling business problems. In particular, Ryazan Hydroelectric Power Station started to pay off its 27-million debt to the coal company. At the same time, the worst debtor, Krasnoyarsk Hydroelectric Power Station-2 , which directly submits to Russian Stock Company United Energy Systems of Russia, still takes a non-constructive stand. No steps were made to settle the debt problem, spite the power station promise to co-ordinate the schedule of offset of the previous debt (which makes over 700 million rubles), which is fixed in the trilateral agreement between the Krasnoyarsk Region administration, Siberian Coal Energy Company, and Krasnoyarsk Hydroelectric Power Station-2.

The Baikal-Ugol company is right, while supposing, the Krasnoyarsk Power Station leadership will be more compliant, if it loses its Mercedeses and cozy office furniture.

Akhtyam Akhtyrov
PRAVDA.Ru

Translated by Vera Solovieva