Alpha Bank has entered into a settlement on the debt with the manufacturer of the tank “Armata” – RBK

mounting the electronics in the body of the tank in the Assembly Department at a subsidiary company of Uralvagonzavod

Photo: Eugene Kurskov/TASS

the Bank sought recovery from Uralvagonzavod and its subsidiaries in excess of 7.3 billion rubles, and more than $ 30.2 million.

alpha Bank and the Corporation “Uralvagonzavod” (UVZ, produces a number of types of armored vehicles, including the latest Russian tank “Armata”) entered into a settlement agreement on the suit for the recovery of the Corporation and its affiliated “CHTZ-Uraltrac” LLC “Technopark Traktorozavodskogo” debt totaling 7,346 billion and $ 30,203 million, according to “Interfax”.

the settlement agreement was concluded on 23 September, representatives of the parties on Tuesday, during the meeting of the Arbitration court of Chelyabinsk region. They petitioned for the dismissal of the claims, including claims of the assets of the Corporation pledged as collateral for loans. The court, which must approve the agreement step-by-step completion of all the proceedings, declared a break till September 28.

a Representative of Uralvagonzavod has refused to comment on the settlement agreement with Alfa-Bank. The press service of Alfa-Bank RBC confirmed the information about the settlement agreement, noting that it was the result of long negotiations. To comment on the details of the agreement, the press service refused, saying only that the document gave “further steps to resolve the situation with the overdue debts for the plant, which got “a real chance of repayment of bad loans on reasonable terms”. The Bank also noted that convergence of the parties of the active role played by Federal government agencies.

In 2015, alpha Bank has submitted to Arbitration court of the Chelyabinsk region some claims to the Creator of the tank “Armata” and its “daughters”, demanding solidary to collect from the companies debts on loans. In June 2016 Alfa-Bank has submitted to Arbitration court of the Sverdlovsk region, application for recognition of Uralvagonzavod bankrupt. The total debt of the Corporation to Alfa-Bank was estimated at RUB 16 billion and $ 119 million.

In early September 2016 UVZ applied for the provision of government guarantees to 16 billion rubles, the General Director of factory Oleg Sienko then told reporters that the receipt of state guarantees will allow Uralvagonzavod to 2021 to extend the payments on loans, which he expires in 2016.