09:42, 5 October 2016

Property of "Kingcoal" subsidiary to be auctioned off in Rostov Region

The miners near the office of the "Kingcoal" group of companies. Photo by Valery Lyugaev for the "Caucasian Knot"

The bankruptcy supervisor of the Open Joint-Stock Company (OJSC) Coal Company "Almaznaya" (a subsidiary of the "Kingcoal"), which went bankrupt, placed on auction the company's buildings. The initial value of the company's property amounts to 50 million roubles.

The "Caucasian Knot" has reported that in October, the "Regional Development Corporation" transferred 20 million roubles to pay off wage arrears to miners of the "Kingcoal" group of companies. Payments were made in favour of workers of the coal company "Almaznaya". The remaining wage arrears still amount to 270 million roubles, reports Vasily Golubev, Governor of the Rostov Region.

The lot to be auctioned off includes two buildings of administrative and office buildings and the right to lease a land plot, reports the website the Federal Register on Bankruptcy Information.

Application for participation in the auction are accepted till November 7, and the very auction is scheduled for November 8, the "Interfax-South" reports.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.