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Asset sale procedure against ex-owner of Russian fieldstone manufacturer prolonged

10:52 27/01/2020

MOSCOW, January 27 (RAPSI) – The Moscow Regional Commercial Court has prolonged an asset sale procedure against ex-owner of Pavlovskgranit fieldstone manufacturer’s ex-owner Sergey Poymanov for six months, according to court records.

The court has granted a motion filed by an administrative receiver.

Poymanov was declared bankrupt in July 2016. Pavlovskgranit-Invest managing company was declared bankrupt 4 years earlier.

In June 2018, a court in Voronezh sentenced Poymanov to a 3-year suspended prison term, finding him guilty of abuse of office.

Reportedly, Poymanov stripped share of Pavlovskgranit-Invest managing company in the capital of PNH Limited in 2011. As a result, the managing company’s equity stake initially decreased from 100 to 40 percent, and then to 1 percent. His actions allegedly resulted in a 930-million-ruble damage (about $16 million at the current exchange rate) to a managing company.

Later, the businessman allegedly ordered the head of Pavlovskgranit-Invest to sign a contract with Rosgranit company on the sale of 150 railway vehicles worth 257.3 million rubles (about $4.5 million). However, the sum was not paid in full and Pavlovskgranit-Invest therefore lost 170 million rubles ($3 million). General damage caused to the company was estimated at 930 million rubles, according to Kommersant newspaper.

Moreover, Poymanov was involved in a criminal case over resale of a batch plant in the city of Voronezh that led to a damage amounting to 10 million rubles ($170,000).

In September 2018, his sentence was toughened; he was ordered to be placed in prison for 3 years.


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Asset sale procedure against ex-owner of Russian fieldstone manufacturer prolonged

10:52 27/01/2020 The Moscow Regional Commercial Court has prolonged an asset sale procedure against ex-owner of Pavlovskgranit fieldstone manufacturer’s ex-owner Sergey Poymanov for six months.
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