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Billions from "Sums"
"Rostransmodernization" requires guarantees and penalties for construction in Nakhodka
The Stroynovatsiya company will be forced to look for a new guarantor instead of bankrupt Vneshprombank for its contract for the infrastructure of the Vostochny port if the court’s decision on the claim of the construction contractor requiring it - Rostransmodernization comes into force. The state structure also requires a contractor’s penalty in the amount of 3,3 billion rubles. due to construction delay. Whether the work is hindered by objective reasons and whether the contract can be terminated, EastRussia found out.
The press service of "Stroynovatsii" said EastRussia, that the court decision has not yet entered into force. “We are planning to appeal. It is incorrect to say that we have not fulfilled obligations under the contract: the project is underway. Delays in the execution of works are due to the current situation at the facility and the objective reasons that will be announced in court, ”the company said. They emphasize that the unreliability of the credit institution was not previously known: “We have negotiated with a number of banks. A bank guarantee from Vneshprombank was obtained in 2014. We did not know about any problems of the bank, especially bankruptcy. The bank worked normally and fulfilled all its obligations. ”
"Rostransmodernization" except for new bank guarantees requires "Stroynovatsii" about 3,3 billion rubles. Penalties: it was planned to fulfill the contract for the Eastern infrastructure by the fourth quarter of 2017, but the contractor is behind schedule. In December last year, the FGU sent suits to the Moscow Arbitration Court forfeit. It should be noted that under the contract by the end of this year more than 50 km of railways, 11 bridges and overpasses, four berthing facilities with a length of more than 900 m should be laid by "Stroynovatsiei", works were carried out to deepen the bottom, reorganize engineering infrastructure facilities and geodetic work.
In "Stroynovatsii" they say that they have already completed geodetic works and works on the preparation of the territory - cutting down trees and stump-stumps - on an area of about 40 ha, works are underway to reorganize engineering communications. Preliminary and earthworks are also being carried out for the construction of railways and district parks. About 1,2 million cubic meters of subgrade have been built, work is underway to build bridges and overpasses. On the objects of water transport, geodetic works were carried out, dredging works and works on strengthening existing quays and construction of four new ones are being carried out.
Representatives of Rostransmodernization declined to comment. A source close to the "Summa" group says that work is delayed due to the fact that there are apartment houses in the future complex. "When the owners of residential premises learn that the state project is being planned here, they overestimate the value of their property several times, which makes it impossible to provide them with this money and start construction in some places. The question is being decided, "- says the source of EastRussia.
There is nothing in the actions of the customer and the contractor that would indicate a desire to terminate the contract, says Yuri Fedorov, partner of the legal bureau of Olevinsky, Buyukian and Partners: In fact, it can be assumed that the customer indirectly assists the contractor in the search for a new guarantor, the expert says: “The cost of the guarantee depends on its size and on the date of submission. Under the circumstances, and success in finding a new bank for a guarantee, and the price of this guarantee for “Stroynovatsii” will depend on the prospect of completing the construction work in the planned terms, ”says Yuri Fedorov.
Investment analyst of EFG Asset Management JSC German Makhnev points out that there are two options for court decisions on similar situations: “Withdrawing a banking license does not officially lead to the loss of the security obligation, even taking into account that this guarantee does not actually work. In this case, the beneficiary may require the principal, in our case, Vneshprombank, to fulfill the obligations, if such mutual arrangements provide for such measures in case of deprivation of the guarantor bank of the license. When the state contract does not take into account the consequences of such situations, the court relies on the principal debtor to provide adequate security. Then the consequences of revoking the license from the guarantor do not concern him, respectively, no need to look for a new guarantee. ” However, the second version of the solution implies that when a license is revoked from a credit institution, the obligations on a bank guarantee are nonetheless ceased, and it is necessary to look for a new guarantee, admits German Makhnev.
According to him, in view of the fact that the project for the reconstruction of the port of Nakhodka is systemically significant and is aimed at the social and economic development of the Far East, "Stroynovatsii" can be contacted for the state guarantees of the Russian Federation in the Ministry of Economic Development, the selection for which is given by the government commission for economic development and integration. "You can also contact the Far East Development Foundation and the Far Eastern Development Agency, they are engaged in exactly the same projects. At the moment, it would be difficult to find alternative bank guarantees on market terms, that is, without attracting state support, "the expert believes.