VTB sold a part of Vladimir Kehman's banana plantations

VTB Bank has started selling remaining assets of Vladimir Kehman's JFC Group, once the largest importer of bananas: plantations in Latin America. The actions of the bank displeased other JFC creditors.
Origin source
Non-core assets

The fact that VTB was the property of banana plantations in Ecuador, the bank said in its semi-annual reports. In June 2015, VTB became the owner of 100% of Ecuadorian company Fideicomiso Pacific Plantations, but in July sold the asset, the bank said materials. Assets in Ecuador went to him for the debts under the non-cash transaction equivalent to 900 million rubles. (About $ 14 million at the Central Bank exchange rate). The buyer and the income from the resale have not been disclosed. RBC source at the bank said that it is a property that previously belonged to JFC - Vladimir Kehmana group, the head of the Mikhailovsky Theatre in St. Petersburg, and Novosibirsk Opera and Ballet Theatre.

In the VTB press service refused to discuss the debt collection process with JFC. "Active was obtained through the work with problem debts, is a non-core and was sold in July to a third party," - said the representative of the bank.

VTB is one of the largest creditors of the JFC, which in 2010 accounted for about 30% of all banana exports to Russia, is now the parent company of the group undergoing bankruptcy proceedings. In Ecuador, TCIoud in Russia, according to FruitNews, imported about 90% of bananas from JFC still had its own plantations of tropical fruits. The first plantation in the country - Don`a Laura - Kehmana structures acquired in the fall of 2004 for $ 432 thousand, according to "Vedomosti"..

In January 2015, when the courts for bankruptcy cases JFC were in full swing, the group's lawyer Alexei Koziakov argued that its business can still be saved - to make profitable and pay off debts. The argument the lawyer reported that JFC still has its own plantations in Ecuador and Costa Rica, an area of ​​about 3 thousand. Ha. According Kozyakova, JFC in 2014 managed to extend contracts for delivery - it could even one and a half years of external management would gain about 3 billion rubles.

According to the register of creditors, drawn up back in 2012, the JFC owed 12 banks 18.25 billion rubles. excluding fines and penalties. At the end of April 2015 of the situation has not changed - the debt is still located in the region of 18 billion rubles, the confirming bank.. Most of the debt - 6.1 billion rubles. - Accounted for the Savings Bank, the second largest lender - Bank of Moscow (owned VTB) & ​​mdash; I am trying to recover 4.5 billion rubles. Another 1.7 billion rubles. PSB owed 1.55 billion rubles. - The bank "Uralsib", 1.35 billion rubles. - Raiffeisen Bank, 1.3 billion rubles. - Bank "Saint-Petersburg". Among the debtors has recently been listed as the structure itself and the JFC and Kehmana. In this situation, lenders began to demand the transition to the procedure of bankruptcy proceedings - JFC sale of assets to repay the debt, sources told RBC previously by the banks.

Not divided bananas

Parent company Kehmana banana business - CJSC "JFC Group" filed for bankruptcy in the Arbitration Court of St. Petersburg and Leningrad Region 20 February 2012, and on March 16 of that year observation procedure was introduced in the company. Interim manager appointed Dmitry Bubnov, whose candidacy offered the debtor. The reasons for the financial problems of the company called the events of the "Arab Spring" - a series of revolutions in North Africa and the Middle East, because of which were disrupted supply of bananas in these countries and they appeared on the Russian surplusmarket. Sources familiar with the business Kehmana spoke of unsuccessful investments in real estate businessman.

In October 2014 a meeting of creditors took a decision on the impossibility of restoring the solvency of the JFC and demanded to recognize the company bankrupt. Against such a decision was made Kehman, which, according to him, by the time departed from the banana business and focused on the management theaters. Production of the bankruptcy proceedings have been suspended in November 2014, but the beginning of August 2015 the first renewed - Kehman and JFC could not in two instances to contest the decision of the creditors meeting.

Under federal law, external control can not last longer than 42 months. This means that the September 16, 2015 the company must approve any debt repayment plan or to accept bankruptcy.

Actions VTB, who decided to return their money, without waiting for the final bankruptcy of the JFC, irritated other creditors, sources told RBC in two other credit institutions. According to RBC interlocutor in one of the banks who take care of the situation, VTBviolates the rights of other creditors, implementing the liquid assets of the group and sharing revenues with the other. "We know that even in 2013, VTB received and sold for $ 3 million JFC plantation in Costa Rica, took all the money at the same time itself", - he said. The press service of VTB this information is not confirmed.

"In order to evaluate the actions of VTB, the JFC to sell assets, it is necessary to clearly understand the status of these assets as part of bankruptcy proceedings, - said the source in another creditor bank. - Although, of course, it would probably correct to wait for a court decision on bankruptcy of the company, and the proceeds from the sale of the debtor's assets be divided among all creditors. "

According to the head of the international legal practice of the Bar "Chaadaev, Heifetz and Partners" Anastasia Astashkevich, in other creditor banks have a reason to be dissatisfied with the actions of peers, but from a legal point of view, the sale of assets in Ecuador is quite lawful. "Before the introduction of bankruptcy proceedings the company has the right to sell their assets, since there are no restrictions at this time is not - says Juris. - At the same time the rest of the creditors rightly believe that this situation looks like the output and sales of assets in anticipation of bankruptcy. "