Energia demands bankruptcy of IDGC of the South

The largest energy company in the region, JSC IDGC of the South, demanded that the Energia enterprise, which transmits electricity through its networks in Volgodonsk and Krasny Sulin, be declared insolvent. Energia says that they were forced to do this in order to collect a debt from IDGC of the South. The amount of debt recognized by the court is about 500 million rubles. IDGC of the South considers filing for bankruptcy illegal and intends to appeal court decisions on debts in higher courts.

IDGC of the South is in no hurry to repay the debt for electricity transmission
Photo: Oleg Kharseev, Kommersant

The application of Energia OJSC demanding that Interregional Distribution Grid Company of the South OJSC (IDGC of the South) be declared bankrupt was registered in the Rostov Arbitration Court on October 14. As Kommersant was explained in court, the basis for bankruptcy is the debt of IDGC of the South to Energia in the amount of 135.4 million rubles, which was recognized by the court in July 2014. “The court decision has entered into legal force, but as of October 13, 2014, the debt is outstanding,” said a court representative.

OJSC Energia specializes in electricity transmission, laying power lines and electrical installation work. The JSC is registered in Moscow, but carries out production activities only in the Rostov region. Since 2010, IDGC of the South has been providing services for the transmission of electricity (power) through its network facilities. As reported on the company's website, its main consumers are enterprises located in the industrial zone of the Atommash plant (Volgodonsk). Energia also has a site in Krasny Sulin. The main shareholder of the OJSC is its General Director Alexander Khurudzhi.

IDGC of the South JSC is the largest transporter of electricity through networks of 110 kV and below in the Rostov, Volgograd, Astrakhan regions and the Republic of Kalmykia. The total length of the company's power lines is more than 158 thousand km. According to the OJSC's report, in 2013 its revenue amounted to 27.4 billion rubles.

According to court documents (published on the Rostov Arbitration website), the debt arose as follows: on January 1, 2014, Energia purchased equipment and networks from a certain TSK LLC, thus increasing its capacity to transmit power. Accordingly, the amount of electricity transmitted to IDGC of the South has also increased. On January 31, Energia issued an invoice to IDGC of the South for services, which recorded the transmission of electricity in the amount of 143.1 million rubles. IDGC of the South partially recognized the invoice, paying only about 7.7 million rubles. The refusal to pay in full was motivated, in particular, by the fact that Energia did not provide evidence of ownership of the new networks. Then Energia went to court with a request to recover the remaining amount, and the court satisfied this demand. In September, this court decision was confirmed by the appellate court.

“IDGC of the South is ignoring the court decision, so we have no choice but to get our money through bankruptcy,” Energia representative Dmitry Grigoriadi explained to Kommersant. He also noted that 135.4 million rubles. The debt is only for one month - January. According to the lawyer, in October the court recognized another 371 million rubles. debt of IDGC of the South for power transmission in the next three months. In addition, the court is considering another application from Energia to recognize a debt in the amount of 220 million rubles.

Sergei Radchenko from the Yug law office says that the debtor has the opportunity to file a complaint with the cassation authority within two months after the case is considered by the court of appeal. “The Court of Cassation can cancel the decision and order of the lower courts and send the case for a new trial,” the lawyer said.

When filing a bankruptcy claim, Energia did not take into account the fact that IDGC of the South is a natural monopoly, notes the general director of IDGC of the South, JSC Boris Ebzeev. “The Insolvency (Bankruptcy) Law provides for a special procedure for declaring a natural monopoly entity bankrupt. This procedure for OJSC Energia has not been followed; the circumstances necessary to initiate bankruptcy proceedings are absent.

This means that the demand stated by Energia OJSC is unfounded and is aimed at obtaining the disputed amounts of debt before the court makes legal and justified decisions that are subject to execution,” says Mr. Ebzeev. According to him, IDGC of the South will dispute the debt in the cassation court.

Vadim Vodolazov

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