RAD proved in the Court of Cassation its case with regard to the sale at auction of the property of Petersburg Tram and Mechanical Plant (PTMZ)

On 14 April the Arbitration Court of the North-Western District declared invalid the Award and Order of Administration of the Federal Antimonopoly Service in regard to acts of the Bidding Organizer on the sale of the property of the debtor “Petersburg Tram and Mechanical Plant” within the framework of bankruptcy procedure.

The object of dispute became the auction of 2 June , 2014 , for the sale of the property of the “Petersburg Tram and Mechanical Plant” – a complex of buildings in the Kalininskiy district of Saint Petersburg on Chugunnaya Street , 2, located on the territory with an area of18.6 he.
Three applicants took part in the auction: LLC “VTE”, LLC “Dominanta” and LLC “Govorov 35”.
The Winner of the auction - LLC "VTE" – paid for the Lot 992,446,080 rubles (starting price – 827,038,400 rubles).

Income of the sale of the asset transferred to the main lien creditor of the company – North-Western Bank of Sberbank of Russia.

“We are satisfied with the results of the decision taken, it confirms the correctness of our approach to the sale of troubled assets – maximum openness of bidding for the sale of assets by the maximum value. We act in the interests of creditors, realize their legitimate right to return issued under the credit and not timely returned funds” (Olga Zheludkova, Head of Department for Sale of Mortgaged Property).