Russian forest group

"The Russian forest group" – consolidation of the enterprises in the field of wood processing. It is organized in 2005.

Assets

The enterprises are placed in the Irkutsk region. Plants "JV SEL to Tayrik" and LDK Igirma.

The management company works in Moscow.

History

2020: "Trust" is ready to sell for 5 billion rub debts of the company for 44 billion rub

In November, 2020 the Trust bank offered for an auction record lot – rights to claim more than 44 billion rubles to the companies of "The Russian of forest group". "Trust" is ready to sell debts of RLG much cheaper, for only 5 billion rubles.

2018: The company passes under control of Trust bank

After sanitation of Promsvyazbank in 2018 the temporary administration refused further financing and suspended work with "RLG". Then the asset portfolio fell into hands to Trust which managers decided that the fastest bankruptcy of the companies will be the best exit.

2012: PSB employs a new team of managers

Because of inefficiency and permanent rotation of managers of "RLG" it appeared on the verge of bankruptcy and by 2012 debt was 800 million dollars. The TSLK and LDK Igirma plants on which the credits undertook were not constructed. Then PSB decided to enter direct control of assets of "RLG" that inhaled new life in the company.

In 2012 shareholders of Promsvyazbank employed for the company of new managers - natives of the industry.   The new command managed to bring the enterprises out of crisis: the TSLK and LDK Igirma plants were from scratch constructed and also supplementary agreements to loan agreements about prolongation of payment due dates were signed on them. As a result of "RLG" it was succeeded to lower the amount of accounts payable to 550 million dollars and to begin to pay annually interests in the amount of more than 1 billion rubles.

2007: Crediting at Promsvyazbank

  From 2007 to 2017 "RLG" was credited at PSB for construction of the plants, acquisition of the equipment and stable work of the enterprises.

2005: Creation of "Russian of forest group"

In 2005 creation of "The Russian of forest group" took place as consolidation of the logging, wood-processing, transport and trading companies in the territory of Russia.