Creditors of the Saratov Institute of Glass will discuss the settlement agreement on December 22

Creditors of Saratov Institute of Glass JSC (SIS, is in the monitoring procedure) at a meeting on December 22 will discuss a draft settlement agreement with the debtor, according to materials on the Fedresurs portal.

The meeting with such agenda was announced by the SIS arbitration manager.

The draft settlement agreement has not been published.

As reported, SIS and its creditors, the largest of which is VEB.RF, have been discussing the possibility of concluding a settlement agreement since February this year. VEB.RF told Interfax that "creditors and SIS are actively engaged in a dialogue with the aim of developing 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. The register of creditors' claims at that time included the company's debt in the amount of 1.5 billion rubles, including to VEB.RF (928 million rubles) and Promsvyazbank (435 million rubles).

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, the SIS is in the monitoring procedure.

According to the reports, the revenue of Saratov Institute of Glass JSC in 2020 amounted to 604.2 million rubles, the net loss was 464.9 million rubles, in 2021 the company reduced its revenue to 578 million rubles, the net loss to 228 million rubles.

Source: https://www.interfax-russia.ru/