1. Sberbank seeks to preserve Antipinsky Refinery and its unique personnel

Sberbank seeks to preserve Antipinsky Refinery and its unique personnel

29 July 2019
The major loan supplier of Antipinsky Refinery made clear their stance on the prospects of the company in connection with a commencement of insolvency proceedings. A statement earlier voiced by General Manager Maxim Andriasov has been confirmed: the legal procedure is just needed for a financial rehabilitation and preservation of the company’s unique personnel.

“Sberbank fully supports efforts of the General Manger Maxim Andriasov aimed at normalizing the company business. Bankruptcy is an absolutely legal tool allowing the company resolve their problems in a difficult financial situation”, says the official Sberbank’s statement.

It was noted in a lending institution that once a procedure started it will then be followed by a ban imposed on the principal and interest payments, enforcement order and other accumulated debts. This will allow the new management and lenders not only understand the causes of financial problems but also take appropriate measures for stabilizing the situation.

“Bankruptcy does not mean an immediate dissolution of the company business or a staff termination. Many businesses go through bankruptcy procedures so that to continue their activities, and sometimes under a new name. As, for example, a preservation of the unique personnel and working business of the company Avtokran in the region of Ivanovo, or the car factory IzhAvto. Sberbank is seeking to preserve both Antipinsky Refinery and its unique personnel”, stated in Sberbank.

In a recent speech by General Manager Maxim Andriasov delivered to the Antipinsky Refinery personnel he has confirmed the principled stance of the incumbent management in preserving the production and the personnel.

“Bankruptcy does not mean the termination of our company business but to a greater degree implies a procedure for its financial rehabilitation. Bankruptcy is not being aimed at laying off employees. And, above all, there is no such intention as to destroy the company as one integral organism. In this regard, there is unity among the loan suppliers, authorities and proprietors. I am also aware of my responsibility towards you and will try my best to preserve the personnel of our refinery no matter how things might unfold” stated General Manager of Antipinsky Refinery, Maxim Andriasov.

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