«Alfa-bank” has decided to act aggressively: After another delay payments on the loan from the “Chelyabinsk Tractor Plant – Uraltrac” one of the largest private banks in Russia are not only prepared a claim for recovery of all debts from the borrower in the amount of 6 billion rubles. and 39.7 million dollars, and threatened that he was ready to seek a court of bankruptcy of the parent corporation “Uralvagonzavod».
The campaign of Vladimir Putin’s 2012 “Uralvagonzavod” has become a symbol of popular support for the president . The request for the stability of factory workers opposed to the protests against the fraudulent elections and castling Medvedev and Putin, who expressed the middle class in Moscow and other major Russian cities. The crisis in Ukraine has led to the penetration of corporations under the US sanctions and the EU. But the Kremlin has provided defense order the adoption of an extensive program of modernization of the armed forces, and then focused on the prospects of import substitution. At the anniversary parade May 9 Victory Corporation distinguished by presenting a new generation of armored vehicles and tanks “Armata” T-14.
Nothing personal, just business
The timing of a rate hike in “knocking out” debts, “Alfa-Bank” has been calculated very accurately – on the day of the dress rehearsal of the parade May 7, when one of the tanks “Armata” suddenly stalled. In the bank’s largest owner, billionaire Mikhail Fridman, has long had a reputation of man, skillfully using litigation to achieve their goals. In Putin’s inner circle Friedman never entered, in place in the government claimed, explaining that his Jewish origins, and finally escaped the US and European Union sanctions. Today, the Russian businessman Anti- offshore away from the action of the law and pretend to be a tax resident in the UK.
Nothing personal, just business – as Friedman has repeatedly explained yesterday’s business partners news about the beginning another lawsuit against them. The same thing he could say, and the leadership of “Uralvagonzavod”: the capitalist patriot does not understand, and with business in a patriot, as a rule, are not going smoothly. With newspaper editorials have not gone reports of harassment “Alfa-Bank” the third volume of traffic “UTair”, the bank determined to strike at the financial stability of “Uralvagonzavod” – the only producer of tanks in Russia.
The Corporation is 100% owned by the state through the Federal Property Management Agency, brings together 40 companies with headquarters in Nizhny Tagil. It provides more than 27 thousand. Jobs. “Uralvagonzavod” produces military and construction equipment, as well as railway wagons, and in the proportions of 50 to 50. However, the crisis in orders for civilian equipment reduced by 30%, said CEO Oleg Siyenko Corporation. Including For this reason, in February 2015 the corporation included in the list of 199 strategic enterprises of Russia. The aim of this decision was to create conditions for allocation of the state’s anti-crisis assistance.
distressed assets
Since then, the corporation management marked the desired level of support: a total of “Uralvagonzavod” to get state guarantees for 75 billion rubles., 15 billion of which are needed “Uraltrac” to pay off the creditors, including the “Alfa-Bank.” The losses of distressed assets as it is called in the corporation in 2013 amounted to 2.5 billion rubles., And the total losses close to 9 billion. At the end of last year, the plant contractors filed a lawsuit on bankruptcy, arrears of wages closer to 200 million rubles . and the workers came to the rally.
«Uraltrac” in Soviet times was designed to produce 70 thousand. tractors per year. Such volumes on the Russian market are not in demand. It was reported that the plant can get 4.7 billion rubles. from the government to implement the anti-crisis program, which implies, among other things reducing production area from 400 thousand. 100 thousand sq. meters. Moreover, due-delayed modernization of the plant’s products was not competitive. In fact, the plant competes with appliances Siemens, Caterpillar and JBC. But there are also Russian competitors, “OMZ” and “Power Machines”. The situation is complicated and the entry into the WTO, which provided greater access to the Russian market of Chinese manufacturers.
More recently, in the “Uraltrac” planned mass layoffs – 5 thousand. People had to leave. But the opportunity to receive state guarantees and deliver the equipment for import substitution program gives hope leadership “Uralvagonzavod” to revive. The very same plant is controlled by the governor of the Chelyabinsk region, whose administration blames the poor condition of its enterprise management. However, despite the fact that the plant has requested state aid, the terms of its provision is not officially called.
unpatriotic blackmail
“Pure blackmail,” – said RBC General Director of “Uralvagonzavod” Oleg Sienko, commenting on the claim “Alfa-Bank.” He also called the actions of the bank “treacherous attack without warning.” But the bank believes that the CEO with his statements put pressure on the court. In his view “Uraltrac” not just delayed the next payment after the threat of a lawsuit and paid 325 million rubles., By the end of April 2015, the company had to fully pay the loan. In addition, contrary to the statements of the “Uralvagonzavod” not all the arrears had been paid.
In the “Alfa-Bank” and did not see grounds for the extension of credit, “financial position is deteriorating, the timing of state guarantees are not marked, and planted industrial real estate is not liquid, its value is insufficient to cover the debt. ” Everything is complicated by the collective claim for recognition “Uraltrac” bankrupt contractors plant. In this case, the bank emphasized that they are ready to negotiate, and are open to suggestions from the “Uralvagonzavod».
But in a corporation known as non-constructive position of the bank just because the redemption presented to the entire amount of debt tractor Plant. All calculation in this case is solely to help the state. But the “Alfa-Bank” is doing everything to accelerate the disbursement of government funds or guarantees plant. As if the bankruptcy case is filed, the government can not give its guarantee, in which the bank, of course, is not interested. “Attempt” to “Uralvagonzavod”, which acts as a guarantor on the loan “Uraltrac” is intended to speed up the process of allocating aid.
In fact, it looks that the “Alfa-Bank” is blackmail that on favorable terms to restructure the debt of the plant by the state. His strategy is that he will take his claim bankruptcy “Uralvagonzavod” as soon as the government refuses to give a guarantee. But you need also to the lender and the borrower agreed. Approximately Bank acted against the airline “UTair”, which should receive 19.2 billion rubles. state guarantees.
In the meantime, the arbitration court seized the money “Uralvagonzavod” and “daughters” of “Uraltrac” as collateral for a loan of 523.5 million rubles. But the management of the corporation claims not to understand what caused the aggressive position of the bank, because the “Alfa-Bank” offered its own credit. However, the explanation for this can be found: since last year overdue retail loans at “Alfa-Bank” has increased by 52%, and corporate – by 34%. Many borrowers of the bank experiencing difficulties with the repayment of debt. The crisis in the Russian economy in the bank called “changing market conditions” and the results of 2014 for the first time in 13 years of senior management “Alfa-Bank” has not received bonuses were also cut wages.
The Crisis private bank decided to act without compromise and on the basis of loan agreements to repay debts entirely, especially if these debts, the company is no longer able to pay for the company and it can make the state. Knowing that a claim for bankruptcy, “Uralvagonzavod”, which has a contract to produce up to 2020 2.3 thousand. Tanks “Armata” worth about 1 trillion rubles., Can cause problems in the implementation of the state defense order, “Alfa-Bank” once again drew attention to the government’s Insolvency “Uraltrac».
price defense contracts
But the fact who believes that the oligarch Friedman demonstrates its influence on the Russian economy and defense contracts, it should be recalled that in 2009, “Alfa-Bank” to sue for bankruptcy “Rusal” and has already achieved from its “UTair”. It is also possible that the bank Friedman used to put pressure on “Uralvagonzavod” Defense Ministry spokesman, believes that 400 million per tank “Armata” is too expensive, what wrote Wall Street Journal, and even threaten to reduce orders for them, especially after being one of the prototypes stalled during a rehearsal of the Victory Parade.
Whatever it was, by the example of their activity, the bank shows not only the working scheme of debt collection in a crisis situation, but also what’s inside Russian capitalism, when the government refuses to privatize inefficient production and for social stability preserves jobs at the cost of increasing budget expenditures. These expenses increased during the crisis, including the payment of debts. Therefore patriots ought to moderate appetites and to be compliant in the price of its products to national importance. So Putin is required as soon as possible to establish serial production equipment shown in the parade.
At the same time, “Alfa-Bank” can not afford to lose money, paying for patriotism. In a capitalist system, there is no such thing. If something is not effective, it must be abolished. But Russia as a whole is not ready. In an interview with RBC General Director of “Uralvagonzavod” even hinted at a lack of patriotism owners of “Alfa-Bank”: “People want to get ahead of the money, I do not know why they needed them so quickly. Maybe they come running out of the country. ” In an effort to translate the arrow, it is silent on how the situation could be a signal, especially for him, the price of state support, without which it is not enough, strangely touched the price of tanks.
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