AMUR ex-director charged with power abuse

July 23, 2013. Charges have been pressed against the former director of AMUR Car Factory Pavel Chernavin; this is all related to a criminal investigation of illegal issue of the company’s promissory notes.

The head of Sverdlovsk Region’s division of Russia’s Internal Affairs Ministry’s press service Valeriy Gorelykh told UrBC that the charges against the former executive are based on Article 201 (part 1) of the Russian Federation Criminal Code (Abuse of Power).

According to the inquiry team, the management of AMUR Car Factory, namely, Pavel Chernavin, coordinated an issue of the company’s promissory notes worth over 1.2bn RUR. This happened between March 2007 and February 2009. However, Chernavin had no real grounds for issuing the notes, and the factory never met its obligations relating to making the payments on these notes or to transfer of assets. As a result, the inquiry team says, the legal interests of individuals and businesses were infringed upon, which later on made it impossible for the company to meet its creditors’ claims in full.

Chernavin is now under travel restrictions but not detained, even thought the investigative team insisted on his being detained; the court, however, dismissed that claim.

Now AMUR has been undergoing bankruptcy proceedings since April 2010, which was prolonged in January 2012 and then in July 2012.


Other materials on the topic::