As the "Fontanka" learnt, action for bankruptcy declaration of ZAO “Yarovit Motors" in the Arbitration Court of St. Petersburg and Leningrad region was filed by Moscow the structure of ZAO " Russian Leasing Company” in March 2010. According to the sources of our edition, St. Petersburg automaker owes the leasing office about 30 million rubles. It was enough to excite the bankruptcy process.
In court "Fontanka" reported that at the next meeting there will be possible appointment of arbitration manager for "Yarovit Motors” decided.
Lawyers of the Russian Leasing Company, pleading a busy schedule, refuse to communicate with the press before the trial. However, we know that the court is not the first trial of the company with "Yarovit Motors”. In March 2010 the Moscow Arbitration Court of Appeal upheld the decision of the Court of First Instance for the recovery of more than 5 million rubles from the St. Petersburg automaker in favor of the Russian Leasing Company for using the equipment. It is possible that the bankruptcy process is nothing more but a continuation of monetary disputes between the companies.
"Yarovit Motors” itself does not comment on the amount of money claimed by the Russian Leasing Company also. But the automaker’s legal counsel Renat Khabibulin assured "Fontanka" that active negotiation with the plaintiff is held to settle the dispute peacefully. "There is no question of bankruptcy of the Company, Khabibulin assured. And, of course, this process will not affect investment plans."
However, these plans are quite ambitious, as we know. In early 2010 a member of the board of directors in “Yarovit Motors” Andrey Biryukov and well-known businessman, owner of “Onexim” Mikhail Prokhorov announced the launch of project of electric cars production on-site of the Metal plant in St. Petersburg. It was reported that Prokhorov is ready to invest 150 million euros in the production.
According to the oligarch’s plans for this money a production line of compact city car "Eco" 3.6 meters long and weighing 700 kg should be set up. They wanted to equip it with a fashionable hybrid engine. It has been assumed that the car is supposed to get into mass sales by the Olympics 2014 in Sochi. The price of the machine is planned to be not more than 8.8 thousand dollars.
Prokhorov also plans to build jointly with Yarovit a factory in Rybatskoe to produce trucks with electric transmission. Production will organized in 2 years.
In the meantime, Yarovit plant is engaged in the production of heavy trucks under the brand “Yarovit”. The Petersburg factory "Yarovit Motors” began working on site of the Leningrad Metal Plant in 2005. Investing in production amounted to 40 million dollars. Cars by Yarovita are designed for the carriage of goods in process mining, chemical, gas, timber, and petrochemical industries. In 2008, Yarovit produced 17 trucks, and in 2009 – four trucks. The founders of ZAO “Yarovit Motors” are, as follows: the company Elgin System (U.S.) - 51% of the shares, and the company Tracks & Dumpers (UK) - 49% of the shares.
Source: [url]www.fontanka.ru[/url] on 06/04/2010