On December 08, 2014 the Arbitration Court of Khanty-Mansiysk Autonomous District (Yugra) commenced the proceedings regarding the application on inconsistency (bankruptcy) of OJSC UTair Aviation (the Air Company) from CJSC IFC Avialeasing.
As a result of non-performance of valid judgements for the total amount of over 3.5 mln. Rubles, Avialeasing Company addressed an application on inconsistency (bankruptcy) to the Arbitration Court of KhMAD-Yugra.
The amount payable by the Air Company consists of the following payment liabilities:
- partial lease payment for October 2013 under the Tu-154M aircraft lease contract (tail number 85681) of 03.10.2007.
- interest on use of borrowed funds for the period from 01.01.2011 to 02.11.2013, accrued due to the violation of lease payment timing the Tu-154M aircraft lease contract (tail number 85681) of 03.10.2007.
- legal costs of one judicial case (À75-3691/2013).
Beginning from June 2011, UTair Aviation company completely neglected its obligations regarding the lease payment under the aircraft lease contracts with Avialeasing company. As a result of the misconduct, Avialeasing company was bound to enforce the debt (lease payment) under all agreements concluded with the Air Company by judicial action, from September 2011 (date of the first application acceptance) to August 2014 (enactment date of the last judicial act concerning recovery of lease payment).
As a result of the above litigation proceedings between Avialeasing and the Air Company, following judgements were pronounced:
- 92 judgements of the Arbitration Court of Khanty-Mansiysk Autonomous District – Yugra,
- 54 decisions of the Eighth arbitration appeal court,
- 15 decisions of the Federal arbitration court of the West Siberian District.
All judicial acts were pronounced in favor of Avialeasing Company.