Sverdlovsk Region Arbitration Court keeps looking into Grinvil Management Company’s bankruptcy application. The petition, signed by Oxana Y. Kolmogorova, is to be considered on August 19, 2009. According to the company’s balance sheet as of April 1, 2009, their indisputable short-term debts reached 117.34 million RUR. This included 68.4 million RUR worth of loans, 22.19 million RUR worth of supplier and contractor debts, 37,000 RUR worth of wage arrears, and 26.71 million RUR worth of advanced payments. The debtor insists that the creditors’ claims amounted to 117.34 million RUR on the date

Pnevmostroymashina’s profits declined by 35.99 million RUR, or 31.43%, that is, from 114.51 million RUR to 78.51 million RUR. The enterprise says the drop in profits has been caused by the falling demand for their produce.

Governor of Chelyabinsk Region Petr Sumin asked his deputy Yuri Klepov and the region’s Minister for Industry Evgeniy Teftelev to investigate the situation behind each of the region’s troublesome enterprises. ‘There are a few companies here (such as Stankomash and Chelyabinsk Mechanical Plant) that we need to get tough with,’ his spokesperson quoted the Governor as saying. The Governor also asked the government officials to pay more attention to employment problems. ‘This is an issue of paramount importance. We’ve got nearly 65,500 jobless in the region now, including the new college and

The rating agency reports the credit ratings and the ruble bonds ratings of Bank Severnaya Kazna (now the asset of Alfa-Bank) have been called off due to expiry of agreement Rus-Rating had with Bank Severnaya Kazna.

The General Director of Egorshinskiy radio plant Vitaliy Elkin has recently been disqualified for one year. The decision was made by T.V. Solomina, Justice of the Peace of Artemovskiy district court, Sverdlovsk Region. The executive was incapacitated from work for the shortest possible time period thanks to the petitions placed with the court by the plant’s workers and Sverdlovsk Region Union of Defense Enterprises. The GD himself declared that he couldn’t accept the court’s ruling and that he was going to appeal against it.

‘We are aware of what is happening to Inturline right now, and I personally feel that the root of this travel agent’s problems lies in the wrong management,’ Ural Tourism Association CEO Tagir Sultanov said to an UrBC reporter. In the meantime, quite a few Yekaterinburg-based travel agents complain about unsettled financial claims they have against Inturline; some of these companies have already taken their cases to court. ‘The best way out would be to stop operating for a while in order to pay off debts. However, Aleander Chirkov is not willing to take our advice, I’m not sure why. Moreover,

ChTPZ Group’s Chelyabinsk Tube Rolling Plant and Pervouralsk New Pipe Plant delivered 634,900 tons of tubular goods to their customers in January-July 2009. This figure falls short of the one for January-July 2008 (namely, 981,000 tons) by 35%. Chelyabinsk Tube Rolling Plant supplied 324,500 tons of tubes and pipes to consumers in the seven months of 2009, including 202,400 tons of large-diameter pipes. In July 2009, the plant shipped 53,100 tons of goods to consumers, including 32,800 tons of LDPs. Pervouralsk New Pipe Plant sold 41,300 tons of goods in July 2009 and 310,400 tons since the

The net loss of Uralelectrotyazhmash-Uralgidromash came to 22,048 million RUR in the first half of 2009, whereas a year earlier, the enterprise was making profit. The enterprise explains their losses were caused by growing loan payments and smaller revenues coming from the sales of goods the company did not manufacture itself.

‘Despite the current economic difficulties, Chelyabinsk Region keeps supporting the local educational facilities,’ Governor of Chelyabinsk Region Petr Sumin announced at an educational board meeting in Magnitogorsk. According to the spokesperson for the Governor, over 11 billion RUR has already been invested in the educational system this year. 473 million RUR was directed to facilities improvements and teacher training programs; 40 million RUR was spent on textbooks. The remaining 70 million RUR will be spent on school buildings repairs and installation of security devices. During the

Governor of Chelyabinsk Region Petr Sumin directed 40 million RUR to buy school textbooks this year. The regional Education and Science Ministry is already collecting applications from the local schools to find out what program each of the schools employs and where the book shortage is the greatest. Elementary school books are given a natural priority; so are the textbooks needed for the children from lower-income families or families with many children. According to the spokesperson for the Governor, the books will be bought immediately from the publishers with a 20% discount, which means

Sverdlovsk Region Arbitration Court is now considering the claim laid by Global Gaming Expo (GGE) against Bank24.ru, Kommersant reports. GGE insists on being paid 186 million RUR that the bank allegedly obtained through unjust enrichment. The plaintiff claims the defendant wrote off the sum off GGE’s accounts illegally, which made it impossible for the plaintiff to pay its customers (who gave their savings into GGE’s trust management). Meanwhile, Bank24.ru insists that the sum was written off upon GGE’s request. According to Kommersant, GGE, founded by a Yekaterinburg businessman Alexei

Egorshinskiy radio plant is to undergo bankruptcy proceedings, Sverdlovsk Region Arbitration Court ruled on August 17, 2009. This was the court’s verdict on the claim laid by Vodokanal against the plant regarding the defendant’s 2.74-million-ruble debt. The claim was placed with the court on June 17, 2009. In July, Arbitration Court received a petition from Uralkabel; the company insisted on declaring the radio plant insolvent. According to the official data available, the plant then owed over 1.5 billion RUR to its creditors and partners, with about 61 million RUR worth of wage arrears.

Having considered case А60–24483/09-С11 initiated on July 30, 2009, Sverdlovsk Region Arbitration Court ruled that Kamensk-Uralskiy non ferrous metals manufacturer should undergo bankruptcy proceedings for seven months. A member of Yuzhniy Ural S. Semenov was appointed the enterprise’s trustee in bankruptcy.

The revenues of Russian Railways Public Company (calculated in accordance with the Russian Accounting Standards) came to 483.13 billion RUR in the first half of 2009, which was 8.8% less than a year earlier. At the same time, the company’s losses amounted to 13,745,455,000 RUR. Russian Railways report the losses were caused by the general economic meltdown that led to decreased solvent demand and people traveling less. As a result, the railway company’s passenger turnover plummeted, while the Ministry for Economic Development’s inflation forecasts came to look even gloomier than before.

In July 2009, Sverdlovsk Region’s industrial production index only reached 77.2% of the figures recorded in July 2008 and only 88.9% of the figures for June 2009, the region’s Ministry for Economy and Labor reports, referring to the data provided by the local division of the Federal State Statistics Service. As for the period of January to July 2009, the IPI amounted to 74.8% of the figures recorded a year earlier; these figures include a 16.5% drop in the mineral resources output, a 27.8% drop in the manufacturing enterprises’ output, and a 13.4% decrease in the production and distribution

The value of assets owned by a Pervouralsk-based manufacturer of tubular engineering structures plunged by 12.411 million RUR, or 97.8% (from 12.684 million RUR in the first quarter of the year to 273,000 RUR in the second quarter). The enterprise reports the assets devaluated due to divestiture.

Sverdlovsk Region Arbitration Court keeps looking into the claim laid by Nova-Group Development against Luxury Life regarding the $83,780 payment. The main court hearing was scheduled for August 14, 2009. Luxury Life owns FENDI CASA, a fashionable furniture and home accessories boutique that used to be operating in Yekaterinburg’s Tikhvin Gallery at 48 Khokhryakov St. Like Alex Zander, FENDI CASA is a member of AZ-Group Holding that specializes in interior design. According to the files involved in the case, the plaintiff took legal action because of the money the defendant owns them under

The district division of the Russian Federation Ministry of Internal Affairs keeps handling the criminal proceedings related to accusations of embezzling the Russian Federation Pension Fund’s money. The sum in question, namely, 955.8 million RUR, was deposited with Bank VEFK-Ural that has recently gone bust. The main suspect is the bank’s Chair of the Supervisory Board Olga Chechushkova, who is now kept in detention. The damage done to the bank by her alleged self-interested offenses and financial frauds was estimated at 127 million RUR. ‘Our investigative efforts enabled us to detect that

The profits of Raiffeisen International Bank Holding AG (Raiffeisen Zentralbank Austria AG’s daughter enterprise and RZB Group’s member) reached ?78m in the first half of 2009, which was 86.2% less than a year earlier. The company reports its consolidated profits dropped due to the need to build up on the devaluation reserves. The bank’s pre-tax profits went down by 81.7% and came to ?154m, while the after-tax returns decreased by 81.6% and amounted to ?119m. All of these data have been presented in accordance with the IAS.

The net loss of Vysokogorskiy Ore Mining and Processing Enterprise (VGOK) amounted to 76.41 million RUR in the first half of 2009, whereas a year earlier, the enterprise had 1.19 billion RUR worth of net profits.