CJSC “LenTIZIS” intends to bankrupt the former general contractor of the Northern Shipyard

CJSC “LenTISIZ”, of St. Petersburg, engaged in engineering and construction surveys, announced its intention to bankrupt LLC "Domestic Systems and Technologies" (OST), of Moscow.

The insolvency process of “OST” has already been initiated in the Arbitration Court of Moscow. JSC "Ariel Metal", the first creditor-applicant, withdrew the application, abandoning its claims. However, “LenTISIZ” managed to identify two other creditors – “Profbeton” and “TechnoInvestPskov”. Thus, their applications in the bankruptcy process will be considered earlier, says Karina Sidorova, head of Crisis Management and Bankruptcy Practice of the Duvernoix Legal law firm.

"The financial difficulties of “OST” are more global in nature," she notes. “According to the Casebook system, operations on “OST” accounts have been suspended at the request of the Federal Tax Service. This means that repayment of the debt is currently difficult for the OST even technically." The expert emphasizes that the accounts payable of OST amount to almost 5 billion rubles, and accounts receivable – 3 billion. Accounts receivable in such a large amount are hardly collectible.

"OST has loans: according to Casebook data, liens have been registered in favor of “Interprombank” and “Novikombank”," adds Karina Sidorova.