Bank Of Baku

Agrarcredit becomes shareholder of company unable to repay debt to IBA

Agrarcredit becomes shareholder of company unable to repay debt to IBA
# 14 November 2016 07:57 (UTC +04:00)

APA-Economics reports citing to Kommersant newspaper that Excalibur belongs to Agrarcredit CJSC which manages troubled loans of International Bank of Azerbaijan.

 

 

Russian company has borrowed a loan from the IBA.

 

Agrarcredit CJSC’s main goal is to repay the troubled loans effectively. For this purpose, the CJSC has signed a contract with Vertikal Kapital company. The latter has already raised a formal objection to Alexander Rodnyansky. Rodnyansky owes USD 4 million and RUB 290 million to Agrarcredit. According to Vertikal Kapital, the film director’s company also face difficulties in fulfilment of obligations before the IBA-Moscow.

 

Fyodor Petrov, head of AR Films, Investment partner of Excalibur, said that his company has several loan agreements worth $4 million with IBA-Moscow. 

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