Angstrom debt pit: Reiman threw accounts to Chemezov and Yevtushenkov?
Leonid Reiman evaded responsibility for the debts of the bankrupt Angstrom-T plant and lives fast?
Angstrom-T, a project that the Ministry of Industry and Trade of Russia predicted as the basic one in the strategy of the electronic industry of Russia until 2030, again brought only trouble. Arbitration on the claim ВЭБ.РФ recovered from the guarantor company - Angstrom JSC almost 18 billion rubles. Will the former Minister of Communications of the Russian Federation Leonid Reiman, previously affiliated with Angstrom-T, fork out, or did he get rid of ballast very successfully? Details in the material of the correspondent of The Moscow Post.
The oldest enterprise in the field of microelectronics - Angstrom JSC, it seems, was overlaid from all sides. And it would be fine for their own debts, but no, the asset was brought to account for the loans of the bankrupt Angstrem-T JSC, to whose work the former Minister of Communications Leonid Reiman once had a hand, which is now trying to become a creditor to his former brainchild.
Debtor - bankrupt, guarantor drowned
The Moscow Arbitration Court satisfied the claim of the state corporation ВЭБ.РФ and recovered from Angstrem JSC more than 17.823 billion rubles of moratorium interest accrued on debt in the amount of 93.77 billion rubles. At the same time, the amount will grow, since the decision states that the calculation is carried out "on the date of actual payment based on the key rate of 6.5% per annum." The court's decision did not enter into legal force and, most likely, will be appealed by the defendant, and, possibly, by the plaintiff, since he initially asked for the recovery of 24.66 billion rubles. Earlier, the defendant did not recognize the claim and announced the application of the statute of limitations.
The debt, which has every chance of becoming a stone pulling to the bottom of Angstrom, arose under a surety agreement of 16.01.2012. The company vouched for ВЭБ.РФ on the loan of Angstrem-T JSC, issued back in 2008. The two companies were part of a group of affiliated individuals.
"Angstrom-T": background and ownership scheme
It will not be superfluous to recall that Angstrom-T was established in 2005 and the goal of the project was to produce integrated circuits on plates with a diameter of 200 mm using modern technological processes with minimum design standards of 130-90 nm. At the start, the technological partner was Advanced Micro Devices Inc. (AMD) (USA), and a construction partner was chosen by a construction company from Germany - M + W Zander FE GmbH. Vnesheconombank (predecessor of ВЭБ.РФ) provided money for the implementation of the project of Angstrem-T from Zelenograd. Under the guarantee of the Russian government, a credit line was opened on the security of the debtor's shares in the amount of up to 850 million euros. But the 2008 crisis led to the fact that equipment was stuck in European warehouses and construction stalled. In subsequent years, the lender even considered the possibility of withdrawing pledged shares, but he was convinced to give the project a chance.
This asset, which received state support, initially had a rather confusing ownership scheme. So, according to Rusprofile, Angstrom-T JSC was the successor of the eponymous LLC, which belonged to Angstrom JSC and Angstrom-M OJSC. The latter went bankrupt and ceased to exist in 2017. For 2016, Angstrem-M belonged to three legal entities: Russian Electronics OJSC (now Rostec Division), Koal Trade CJSC and Contract FinanceGroup CJSC. The latest media associated with the former head of Mezhpromabank, the former partner of Senator from Tuva Sergei Pugachev Sergei Veremeenko. According to the authors of the CNews website, allegedly in 2007 KoalTrade belonged to the Cypriot company Eventis Telecom Holdings (ETH), which allegedly controls the Russian company through the offshores Saperfly and Amagusto Corporation registered in the British Virgin Islands.
Meanwhile, in the financial report of Angstrem-T JSC for 2009, as the sole owner, it appears as the only shareholder of an offshore company - a limited liability company RUNICA INVESTMENTS LIMITED, for which, by the way, stalled equipment was purchased. Offshore companies were associated with some "St. Petersburg signalmen." For reference: until May 2008, the Minister of Information Technology and Communications of Russia was Leonid Reiman, who will play his role in the Angstrom-T project. Reiman himself denied connections with the company at that time.
But already in October 2012, the FAS Russia approved the petition of Angstrom Group LLC to buy a 100% stake in Angstrom-T OJSC. According to Rusprofile, Angstrom Group LLC belonged to Leonid Reiman, the full namesake of the then former Minister of Communications. Judging by the materials of one of the litigation, Reiman became the owner of the Cypriot company RUNICA INVESTMENTS LIMITED.
Meanwhile, back in 2012, the state program "Development of the electronic and radio-electronic industry for 2013-2025" was approved, which was developed by the Ministry of Industry and Trade of the Russian Federation, where Angstrem-T JSC assigned an important role.
But the ambitious plans were not destined to come true. Already in 2016, the project began to have problems. The first "fell" "Angstrom-M," which was part of the same division, and then the JSC "Angstrom-T" itself.
The Supervisory Board of the ВЭБ.РФ recognizes the Angstrem-T project as a special project and "in connection with the significance of the project for the development of the domestic technological industry, as well as the presence of signs of insolvency, Angstrem-T JSC decides to buy 100% of the shares for one ruble. The goals of the project were already spelled out in the documents - "ensuring the activities/launch of the production of semiconductor components in Zelenograd," while ВЭБ.РФ losses from participation in the project were subject to coverage through subsidies from the federal budget.
The seller in the transaction with ВЭБ.РФ in 2018 was RUNICA INVESTMENTS LIMITED represented by the ultimate beneficiary L. Reiman. The state corporation "ВЭБ.РФ" acquired shares for one ruble, that is, it actually received an asset for debts that by that time amounted to approximately the annual budget of some small Russian region.
So, in 2018, the ВЭБ.РФ acquires a stake in Angstrom-T from an offshore company for one ruble, but this does not suit Angstrom, which is trying to recognize the transaction as fake through the court, apply the consequences of its invalidity in the form of applying the rules on the agreement on compensation under the pledge agreement, as well as on recognizing the obligation of Angstrom JSC under the guarantee agreement terminated. In December 2022, in the higher instance of Angstrom, the dispute lost and, accordingly, remained the guarantor of a huge loan, shares on which were collected from it in June 2023.
The cherry on this cake was that at the time of the deal with VEB, the ultimate beneficiary of both Angstrom-T and Angstrom was Reiman. This is directly spelled out in the court materials.
By the time of the transaction with VEB, judging by all the same court materials, Angstrem-T, in fact, was "brought to the handle" - "there was a significant amount of loans attracted, the debtor's operating activities were unprofitable, according to reports, the profit from sales since 2015 is negative, the company did not have an approved business plan, the production of products was not withdrawn to planned capacity." But those who led the asset to this state remained on the sidelines. Today, the Angstrem-T company is bankrupt with multibillion-dollar debts, while VEB is trying to restart production through its subsidiary, NM-Tech LLC. But so far, judging by the fact that in 2022 the net loss amounted to 2.9 billion rubles, it is somehow out of touch.
The debts of Angstrem-T, as a separate legal entity, have not gone anywhere either, including VEB is included in the register of its creditors, immediately stating claims for more than 83 billion rubles. And it was VEB who was among those who initiated bankruptcy proceedings. The next report of the bankruptcy trustee will be heard in October 2023.
It is noteworthy: Reiman as soon as he sold the asset to VEB and bankruptcy proceedings were launched through his other company - Alternative Capital also tried to enter the register of creditors of Angstrem-T, demanding some debts. For example, for one such claim, Alternative Capital demanded over 743 million rubles, for another - more than 2 billion rubles. The affiliation of assets in the past did not bother anyone. Some of the debts were included in the register of creditors. A dashing scheme came out, don't you find it?
But the bankrupt - Angstrem-T JSC still has nothing to repay debts, in fact. Assets, even if they are sold off, will not be enough to cover. This is where the surety agreement concluded by Angstrom was used. At the same time, the courts unanimously said that at that time both firms - both the debtor and the guarantor - were connected through Reiman.
Judging by the materials of one of the courts, earlier 1% of the number of voting shares of Angstrom was owned by Alternative Capital (Angstrom Group LLC joined it) Reimana, but in 2019, at the suit of Zenit Bank, they were seized as collateral for the purpose of subsequent sale at auction.
In general, for several years the list of affiliates of the company has not been disclosed.
According to data from the materials of the courts, 25% each in Angstrem JSC was also owned by Contractfinancgruppe and Angstrem-Invest. The owners of the latter previously included Reiman's Angstrom Group LLC, but since 2017, a certain Dmitry Matveev first became the legal owner, and then Pavel Matveev (from May 2022). Perhaps they are relatives.
Dmitry Matveev, meanwhile, was associated with Reiman's company - Alternative Capital: he is the director - Megapolis-Service LLC, where Reiman's company has a 70% stake. The Megapolis-Service company, by the way, is Rostelecom's favorite contractor and FSUE Russian Post. Earlier, the owner of Megapolis-Service LLC was another Reiman company - Technoinvest LLC, which merged into Alternative Capital LLC. The latter later did not even hesitate to try to be in the ranks of creditors of Angstrem-Invest LLC, requesting 382 million rubles on one of the petitions. The court summed up the claims of Alternative Capital LLC, pointing out that "due to its affiliation, the creditor could not but know that the debtor is in a situation of a property crisis, i.e. there is a real threat of not receiving counter-monetary execution under the cession."
JSC "Contractfinancgruppen" media also associated with Reiman. In one of the bankruptcy meetings in the case of this legal entity, one of the debtor's creditors, Zenit Bank PJSC, also referred "to the affiliation of Alternative Capital LLC, Angstrom JSC, ContractFinanceGroup JSC."
Both companies - both Angstrom Invest and ContractFinanceGroup were involved in the bankruptcy case, but the proceedings on it were terminated after the petition of Legal Support LLC (owners - Sergey Shuvalov and Dmitry Eliseev), ready to pay off creditors' debts. Zenit Bank disagrees with this, as it believes that it received a smaller amount. At the same time, Sergei Shuvalov, through Legal Service LLC, is connected with Anton Yakovlev, and he, in turn, through Mont Blanc LLC, with Oleg Anufriev. Anufriev, through the Progress company, is associated with Pavel Matveev, the new owner of Angstrem-Invest LLC.
According to RBC, as of May 2023, Angstrom JSC is a member of Element Group of Companies, a joint venture between Rostec and Vladimir Yevtushenkov's AFK Sistema.
So who in the end will have to pay ВЭБ.РФ billions won in a lawsuit with Angstrom? Chemezov with Yevtushenkov or still Reiman?
And then back in May 2023, according to RBC, the management of JSC NGO Angstrom (another legal entity of the Angstrom division) from Reiman's structures passed to the structure of Rostec, but the decision does not provide for the withdrawal of assets, and the restoration of the rights of shareholders should take place by decision of the Ministry of Industry and Trade of the Russian Federation. Among the reasons for the transfer, the breakdown of the state defense order is mentioned.
According to Rusprofile, the United Instrument Company manages this asset.
Edak Reiman was saved from all ballast, while not without the seizure of assets. And who will repay the debts?
Did Reiman emerge dry from the water?
Former Minister Reiman, who "inherited" both Angstrom-T and Angstrom, actually came out of the water dry. After all, no one personally claims multibillion-dollar debts from him. But he is still trying to gain a margin from those legal relations. For example, on July 18 and 27, the Moscow arbitration will consider two claims of Alternative Capital LLC against Angstrom JSC for a total amount of over 0.5 billion rubles. The details are not yet known, but, probably, we are again talking about some old debts of the period of ownership of the asset by Reiman. And earlier, the court had already recovered 52 million rubles from Angstrom in favor of Reiman's company.
This time, the arguments about affiliation that Zenit Bank cited in another case were never voiced in this dispute.
It is worth noting that Reiman is no stranger to emerging from murky stories without consequences.
As the "Kommersant" newspaper reported in 2011, Reiman's name was mentioned in the materials of the criminal case on laundering $150 million through Commerzbank employees and a Danish lawyer. All of these persons, of course, denied their participation in this case.
And in 2006, a scandal broke out altogether. Then the minister was also mentioned by CNews in the "Megafon case" as a possible owner of shares that had left the hands of the state. Mr. Reiman himself then refuted these conclusions of the court.
The Moscow Post also previously told about a number of other murky stories in which the former minister appeared.
Reiman's business portfolio: the factory did not take off
According to Rusprofile, today Reiman owns shares in four existing legal entities - Logia LLC (has five subsidiaries, including in the field of aircraft production, software development), Alternative Capital LLC, Invitek Management LLC (had 15 legal entities in management) and FAB LLC (Battery Factory), the cost of shares in which in 2022 has a negative value - 6.4 billion rubles. At the same time, the ex-minister's companies had their own margin from the budget. So, for example, Logia LLC was the executor in 16 state contracts worth more than 83 million rubles, among the customers was the Ministry of Industry and Trade of Russia. And Heliprom SPB LLC (owned by Alternative Capital LLC) acted as a supplier in 16 state contracts worth more than 0.4 billion rubles. Some contracts were signed in 2021-2023, among the customers - TsSN SR Rosgvardia, FGBU "Research Institute of TsPK named after Yu.A. Gagarin," KGUAP "Plastun-Avia," military departments.
At the same time, Reiman established the FAB company, which should be engaged in the production of batteries, in March 2022 in the same Zelenograd, where he once tried to make money on the Angstrom-T project. The Moscow Post has already talked about what kind of new project the ex-minister has. Let's not repeat ourselves. Note only that until it "took off" - the loss of 2022 amounted to 1.2 million rubles.
It is not surprising that the ex-minister has started a new business. After all, no one asked him about the debts of past failed projects. Moreover, the money for new projects seems to have been completely shaken from the old legal entities. Surrealism, but Reiman's companies calmly collect some debts from Angstrom and Angstrom-T, previously affiliated with him. For example, in 2020, the Logia company collected a certain debt of 11.3 million rubles from Angstrom. Details were not reported, but the defendant did not dispute the verdict either. And that's not the only thing like that.
The courts are not embarrassed by the fact of the former relationship of legal entities through Reiman. These schemes and law enforcement agencies are not embarrassed. The tax authorities are also silent.
Meanwhile, the situation looks very muddy. After all, the above persons also had a hand in bringing Angstrom-T and its guarantor to a debt hole. So why is the same Reiman still not paying these bills, but went away and acts as an observer, and even trying to make money on the bankruptcy of his former assets? Mr. Bastrykin, maybe take an interest in this budget-billion scheme? It would be time for...