The sanctions have brought the business of Kluev to bankruptcy

10.03.2016 01:00
Articles about real estate | The sanctions have brought the business of Kluev to bankruptcy Austrian companies SLAV group, controlled by Sergei and Andrei Klyuev, began bankruptcy proceedings. The main reason - lack of credit because of the sanctions. The Austrian company SLAV Handel, Vertretung und Beteiligung AG, controlled by a fugitive from Ukraine Andrei and Sergei Kluyev, 8 March filed in the Arbitration Court in Vienna declaration of the beginning of bankruptcy proceedings, said the Austrian Society for the Protection of the rights of creditors KSV1870.

"According to the information of the debtor, total liabilities amounted to € 111.81 million," - stated in the message on the site KSV1870 Tuesday.

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Klyuev brothers could not get loans to pay off debts, as well as to replenish the working capital of the company from its own resources, since their accounts frozen as a result of the US and EU imposed sanctions.

According KSV1870, 28 lenders hit by the financial insolvency of the debtor.

Deutsche Welle referring to KSV1870 also reported that bankruptcy proceedings have started and two subsidiaries SLAV group structures, and more than 90% of the Group's debt falls on the Chinese state concern CNBM International. As noted in the material of the newspaper, SLAV has assets total value of nearly EUR80 million, the bulk of - assets of enterprises "Ukrpodshipnik". In particular, under the control of the group were a number of machine-building plants in Artemovsk Donetsk region.

As reported, the media associated with the Klyuev brothers as a company Activ Solar with assets in the field of alternative energy, but the past and the company deny this information. In February, Activ Solar filed for reorganization in Austria because of the investment risks in Ukraine - the total proportion of Activ Solar in Ukraine has been greatly reduced due to the difficult market conditions, established after the beginning of the economic and political crisis in the region two years ago. Over the past two years, foreign direct investments have suffered, and the market of photovoltaic cells (PV market) greatly deteriorated: Annual plant capacity was reduced from more than 200 MW in 2013 to 10 MW in 2015.

The Antimonopoly Committee of Ukraine at the beginning of November 2015 allowed Chinese CNBM buy a number of solar power plants built by the company Activ Solar, in Odessa and Nikolaev areas.
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