The London International Arbitration Court ordered the parent company Ulmart Holding Limited (UHL) to pay out more than $ 30 million of debt under a loan from the Panamanian Ledaro, for which Mikhail Skigin, Chairman of the Board of Directors of the Petersburg Oil Terminal. The entrepreneur noted that he is not going to destroy the online retailer's business, and expressed readiness for negotiations with his representatives. One of the options that is available to the creditor is the conversion of debt into shares and shares in Russian companies "Yulmarta". Another option may be the emergence of a new investor in Yulmart, which will pay off the debts of the retailer to Ledaro.
On the decision of the court, which was delivered in late April, Kommersant Rusakomsky told Kommersant the managing partner of the legal company Paradigma (representing Ledaro). According to the lawyer, satisfaction of the claim makes it possible to impose a penalty on UHL assets in Russia and Malta, as well as to start bankruptcy of the company in case of non-payment of a debt. "We do not set ourselves the task of getting UHL bankruptcy, but want to return money to our client, so we are ready to consider any proposals from UHL, including debt restructuring." If proposals are not received from them, we will move in any of these directions " , - he specified. As Mr. Rusakomsky explained, the decision is final, as the parties irrevocably refused the opportunity to appeal against him. The representative of the co-owner of "Yulmart" Dmitry Kostygin confirmed to Kommersant the fact of the court decision.
Chairman of the board of directors of the Petersburg oil terminal Mikhail Skigin, with whom Ledaro is connected, told Kommersant that he expects to find a compromise with representatives of the online retailer. "As an investor I am interested both in the sphere of e-commerce and the company" Yulmart "as such, but I can not say that I want to convert everything into a share, for example, and certainly I do not want to be a creditor who will destroy a working business, at any cost by pulling out their assets, "he explained.
Claims for UHL arose in Ledaro in 2016, when the parent structure of the retailer allowed a delay in the loan and did not pledge real estate.
As Rusakomsky pointed out, Russian assets of UHL (shares and shares in NJSC "Yulmart", "Yulmart RSK", "Yulmart PZK", "Yulmart Development") are burdened with liabilities to creditors and their cost is not enough to repay the debt. "We hope that Yulmart will be of interest to investors who, having entered the business, will be able to repay the debt," the lawyer explained.
Dmitry Kostygin's lawyer Konstantin Dobrynin stressed that his client is ready to negotiate with all creditors, including Ledaro. "The main task now is to find a comprehensive compromise solution that takes into account the interests of both existing shareholders and potential new investors," he commented. Options for the settlement of the situation with Ledaro, as well as the names of potential investors, the lawyer did not name. Earlier, the media reported that the interest in investing in Yulmart is ex-owner of the food chain Kopeyka Alexander Samonov.
According to Mr. Skigin, the dialogue with representatives of "Yulmart" has not yet begun, as the court decision was taken quite recently. The businessman described the most comfortable option for himself as negotiations with Mr. Kostygin, noting that he had agreed with him on granting a loan.
Mikhail Vasinkevich did not respond to a request from Kommersant, the A1 investment company advising him did not comment.
In 2016 in "Yulmart" conflict arose between Dmitry Kostygin and August Meyer and their partner Mikhail Vasinkevich, after which bankrupt claims from creditors began to pour into the retailer. To date, the arbitration court has been considering the requirements for the recognition of NLO "Yulmart" and its structures as insolvent ("Yulmart PZK", "Yulmart Development"). In addition, the monitoring procedure applies to the company "Yulmart RSK". Partner of the law firm "S & K Vertical" Andrei Mikonin believes that the satisfaction of Ledaro's requirements should not affect the consideration of bankruptcy suits against Yulmart and its structures by other Russian creditors. But if you get a share in the retailer's business, Ledaro will have to negotiate an agreement with them about the settlement, the lawyer continues.