AMUR Car Factory to become Sverdlovsk Region Government’s property

December 25, 2014. Novouralsk-based AMUR Car Factory might become the property of Sverdlovsk Region Government, hints the constituency’s Prime Minister Denis Pasler.

‘We might take AMUR out of its current bankruptcy proceedings in order to make it the Region’s property so that it could be sold to investors in 2015,’ Pasler said at a press conference in Yekaterinburg.

According to the official, AMUR still has a production site that is suited for making automobiles and special-purpose vehicles.

AMUR Car Factory is currently undergoing bankruptcy proceedings, whereas the factory’s former DG Pavel Chernavin is involved in a criminal lawsuit.

The inquiry team believes he provided one of Yekaterinburg-based non-state banks with knowingly inaccurate accounting reports in 2007-2008, which helped him obtain some 350m RUR worth of loans: these still haven’t been paid back to the bank.

It was detected that in 2009 Chernavin issued over 1.2m RUR worth of promissory notes in his own favor as he was anxious not to lose control over the enterprise as a result of bankruptcy proceedings.

The notes were provided to the arbitration court which processed AMUR’s bankruptcy case in order to get on the list of creditors. This means that the accused allegedly misinformed all of the other parties involved in the case as to whether the factory actually owed him any money. The former head took care not only to get on the list of the car factory’s creditors but, in fact, became its primary creditor.


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