Systematic failure to meet payment obligations by Municipal Unitary Enterprise Ulyanovsk City Electric Networks (MUP UlGES) resulted in multi-million indebtedness accrued since the end of the last year for electricity transmission services. To date, the amount payable by one of the key consumers to IDGC of Volga, PJSC is 126 million rubles.
Over the last year, IDGC of Volga, PJSC attempted to recover the multi-million debt. Up to date, negotiations and written applications to MUP UlGES and authorized authorities failed to produce an agreement on full repayment of the debt. The defaulter has not attempted to resolve the situation so far.
One of solutions to the problem would be attraction of credit resources. However, MUP UlGES is not willing to bind itself with high bank charges and prefers to carry out its business at the expense of IDGC of Volga, PJSC. As a socially responsible company, IDGC of Volga, PJSC in its turn has to attract credit resources to discharge its own payment obligations to its contracting parties.
To protect its legitimate interests, IDGC of Volga, PJSC had to take legal recourse, while MUP UlGES deliberately delayed lawsuits by appealing the arbitration awards on the last day that the appeal could be filed. Thus, the company tried to postpone payments for the provided electricity transmission services for as long as possible.
Eventually, all petitions of appeal filed by MUP UlGES were dismissed. Enforcement orders on several lawsuits were received and submitted to the bank and to the Court Bailiffs Service. At the moment, the property of the debtor is seized under a writ of execution.
IDGC of Volga, PJSC will continue its efforts on taking all legitimate measures for debt recovery.
Eventually, all petitions of appeal filed by MUP UlGES were dismissed. Enforcement orders on several lawsuits were received and submitted to the bank and to the Court Bailiffs Service. At the moment, the property of the debtor is seized under a writ of execution.
IDGC of Volga, PJSC will continue its efforts on taking all legitimate measures for debt recovery.