Creditors of the Saratov Institute of Glass postponed the discussion of the settlement agreement for another month

Lenders of Saratov Institute of Glass JSC (SIS, is in the monitoring procedure) postponed the discussion of the draft settlement agreement to February 28, 2023, according to materials on the Fedresurs portal.

The issue of concluding a "world" was submitted to a meeting of creditors held on January 31, but no decision was made on it.

The representative of the secured creditor - VEB.RF said at the meeting that the adjustment of the financial model of the debtor's activities under the settlement agreement, as well as, possibly, the introduction of other conditions, "requires some time."

According to the minutes of the meeting, VEB.RF and Promsvyazbank, who together control 94% of registered debt, took part in it.

As reported, the issue of concluding a settlement agreement was submitted to the meeting of creditors at the end of December, but the discussion was postponed to the end of January for the creditors to study the adjustments made by the debtor to the draft document approved by the creditors.

SIS and its creditors, the largest of which is VEB.RF, have been discussing the possibility of concluding a settlement agreement since February 2022. In VEB.RF, Interfax was told that "lenders and SIS are actively engaged in a dialogue in order to develop a joint strategy, and the common task is to preserve production and the staff of the enterprise."

The Arbitration Court of the Saratov Region introduced a monitoring procedure for JSC Saratov Glass Institute in October 2020. In October 2021, SIS creditors voted to declare the debtor bankrupt. At the same time, representatives of VEB.RF said at the meeting that they were ready to consider the possibility of concluding a settlement agreement if Promsvyazbank takes the same position. So far, "SIS" is in the monitoring procedure.

Source: Interfax