“Sber” filed a lawsuit for the recognition of “EuroTrans” bankrupt
In the spring, it became known that the fuel operator does not redeem “people’s” bonds. In September, EuroTrans has already defaulted on the entire volume of public debt, and the co-founder was taken into custody in the case of theft of fuel
Sberbank appealed to the Arbitration Court with a request to declare EuroTrans bankrupt. The case file is published in the electronic database.
The bank announced its plans in August and September.
A similar application was filed by Alfamonolith LLC.
On July 23, another creditor of the company, Bank Rossiya, announced plans to submit the same application. On this news, EuroTrans shares lost more than 15% of their value.
In April, the Association of Bond Holders (ABO) appealed to the Bank of Russia and the Moscow Exchange due to the fact that PJSC EuroTrans does not redeem “people’s” bonds from investors. The association saw in the actions of the issuer a violation of the law “On the securities market” No. 39-FZ. In her opinion, the issuer violated the norms, not disclosing essential facts about non-fulfillment of obligations on “people’s” bonds. The ABO proposed a number of measures aimed at resolving the situation, in particular, to introduce the institute of air defense (representatives of bond holders).
EuroTrans is one of the largest independent fuel operators operating in the Moscow region for more than 28 years. The company is included in the list of backbone enterprises of the Russian economy, approved by the Ministry of Economic Development of the Russian Federation. EuroTrans owns and operates a network of 57 filling stations under the Trassa brand, an oil depot, a kitchen factory, a plant for the production of non-freezing liquid under its own brand, a fleet of petrol trucks and develops a network of fast electric filling stations.
Later, the head of the Bank of Russia Elvira Nabiullina said that the Central Bank thought about the adjustment of the parameters of “people’s” bonds after the situation with “EuroTrans”. “Before that, there was no practice of non-fulfillment of offers for redemption on “people’s” securities, because initially such securities were issued either by the Ministry of Finance or by regions, and with the development of financial platforms, such securities began to be issued by companies,” she said.
On July 24, Financial Services recorded non-fulfillment of client applications for the redemption of the company’s “people’s” bonds, which, according to the marketplace, continues from July 10.
Due to technical defaults, the rating agencies Expert RA, the NKR and the NRA first downgraded and subsequently revoked the credit rating of EuroTrans. There are no valid credit ratings of the issuer.
On August 5, EuroTrans made a full default on coupon payments on bonds, and in September on the entire volume of public debt. In addition, in September were detained top managers of the company, as well as its co-owner Igor Martyshov in the case of theft of motor fuel.
On September 30, the court arrested 44% of EuroTrans shares worth about у1.6 billion owned by Martyshov. Savelovsky District Court of Moscow at the request of the Interior Ministry investigator seized 70 million ordinary shares of EuroTrans. Martyshov was left in custody.
