Silicium Kazakhstan LLP deprived of rights on silicon plant’s property
Astana, Kazakhstan, Jan. 22
By Daniar Mukhtarov - Trend:
State bailiff in Kazakhstan has delivered a judgment against the Silicium Kazakhstan LLP, prohibiting the company to be in charge of the silicon plant's property, to use it and to be on the plant's territory, according to a message from the Investment Fund of Kazakhstan.
The property inventory has been made at the plant, according to the message.
The Investment Fund of Kazakhstan said the property was arrested as part of enforcement proceedings for collection of 14,982,701,051 tenges (155.30 tenge = $1) debt from the Silicium Kazakhstan LLP in favor of the fund.
Investment Fund of Kazakhstan was and currently remains custodian of the plant's property as part of the enforcement proceedings.
According to the rules of Kazakhstan's current legislation, the fund bears full liability, including criminal liability, for the safety of the enterprise.
As part of its commitment on keeping the plant's property the fund has also undertook all expenses for maintenance of the property in the operating condition and pay for the labor of Silicium Kazakhstan's current employees.
In turn, the Silicium Kazakhstan LLP refused the bailiffs' offer to undertake the property for safekeeping and thus, with this refusal the company voluntarily withdrew itself from the obligation to maintain the safety of the enterprise.
The Investment Fund of Kazakhstan was established in 2003 as part of the Strategy of Industrial and Innovation Development for 2003-2015.
Its main objectives include the asset restructuring, claims management, stressed assets management and consulting activities.
The fund's sole shareholder is the JSC National Holding 'Baiterek'.
Translated by E.A.
Edited by C.N.