The structure of New Stream, controlled by businessman Dmitry Mazurov, made a statement accusing Sberbank of pressure on the businessman with the help of law enforcement agencies “with the goal of depriving them of the opportunity to defend their rights and legitimate interests under threat of criminal prosecution.”
New Stream describes the situation in such a way that “immediately after the construction of the Antipinsky Oil Refinery was completed (in September 2018, the plant began to enter new capacities with an increase in ЕBITDA to $ 30 million per month), the main creditor of the plant, Sberbank, took a number of unfriendly actions against the company” . The company writes that under pressure from the lender Mazurov agreed to give control over all financial operations of the plant, agreed to increase the number of Sberbank representatives on the board of directors of the company. “On November 14, 2018, after the change of the plant’s general director, the Antipinsky Oil Refinery’s management completely transferred to Sberbank,” the company said.
After that, the company's revenue dropped significantly, and the company twice sold the same products intended for VTB Commodities Trading, a subsidiary of VTB Bank. “As a result, VTB was forced to go to court, and the plant’s products for export were seized,” follows from a New Stream report.
This situation led to the shutdown of all payments to the enterprise, the plant completely stopped work and a few days later the general director of the plant filed for bankruptcy, Mazurova reminds. This, according to the representative of New Stream, became the basis for Sberbank to write off the company's shares owned by Mazurov in the plant’s shareholder, Vikay Industrial, to repay the debt.
“Rumors that were dismissed in order to bring the Antipinsky Oil Refinery to bankruptcy, the embezzlement of funds of the enterprise have no basis, as well as rumors about the embezzlement of funds through the sale of petroleum products at reduced prices,” notes New Stream. "This, in particular, is evidenced by the conclusion of an independent auditing company Alvarez & Marsal, attracted by Sberbank," said Mazurov's company statement.
The representative of Sberbank did not comment on the message of the New Stream. Earlier, Sberbank reported that Mazurov and the former general director of Antipinsky Oil Refinery Gennady Lisovichenko misled the bank about the financial condition of the company: they hid the presence of large debts of New Stream companies - actually controlled by Mazurov - on the sureties of Antipinsky Oil Refinery. Sberbank announced that it had found contracts with the Antipinsky Oil Refinery on non-market terms, including export contracts. Mazurov’s actions reduced the refinery’s solvency and led it to a halt at the end of April 2019.
On Monday, the former beneficiary of the Antipinsky Oil Refinery and the owner of New Stream, Dmitry Mazurov, was arrested for two months by the decision of the Tver Court of Moscow. Mazurov is suspected of fraud on a large scale; he faces up to 10 years in prison. The criminal case was instituted on July 12, according to a statement by Sberbank's Chairman of the Board, German Gref, according to the materials of the case filed in court. The plant also appealed to law enforcement agencies on the fact of fraud, the press service of the refinery said.