Neobidding

Neotorg company beginning the business in the late nineties with online store, in recent years before crisis, especially in 2007 sharply jerked forward. According to the company, in 2007 its turnover exceeded 100 million dollars^[1].

By the fall of 2008 as a part of network there were already about 50 shops of the computer equipment in different regions of the country. The network of GeoS retail stores in the Samara region became the last acquisition of "Neotorga" (announced it in July, 2008). The company started also production of desktop PCs under own brand.

But summer of 2008 banks "unexpectedly" as counted in the company, refused to Neotorgu prolongation of a credit line. And in August falling of consumer demand began...

In November "Neotorg" quickly and without special noise passed under control of Sfera company.

As Alexey Priyezzhev, at that time the CEO of "Neotorga" reported a number of media, under the terms of the agreement between Neotorg and Sphere the last (according to him, it was controlled by the owner of Pronet Group distribution company Sergey Pronin) had to attract 300 million rubles to a covering of the formed cash gap quickly. However the new owner did not manage to make it.

Nevertheless, according to representatives of the companies of suppliers, at the end of November, 2008 during the meeting of creditors of "Neotorga" on behalf of Pronet company it was announced that in Neotorge owners were replaced and that is going to continue activity and gradually to return a supplier debt. Creditors asked to wait and not to submit claims to arbitration a little. However contrary to these statements the company quickly enough stopped operating activities and any payments to suppliers. As of the beginning of December, 2008 the total debt of the company was estimated at 20–30 mln. dollars.

On February 11, 2009 the only participant of Shopping Mall Neotorg LLC made the decision on liquidation of Society.

On March 31, 2009 "Neotorg" submitted to Arbitration court of Moscow the application for recognition of as the liquidated debtor, the bankrupt. In June, 2009 the company was declared bankrupt and entered competitive observation. In fact there was a situation when one of suppliers of "Neotorga", having received the actual control over its transactions and financial flows, solved only own financial problems, resulted the company debtor in bankruptcy and deprived of other suppliers of an opportunity to return at least a part of the money.

At the same time, despite addresses of some creditors, any criminal case against owners of "Neotorga" (former or new) it is not initiated.

The situation with bankruptcy of "Neotorga" was discussed at AP KIT committee meeting concerning protection of property of the IT companies. Creditors consider it opaque and intend to continue trial. According to participants of discussion, it is extremely dangerous and inadmissible precedent in IT market and it is necessary to take all measures in order that separate acts of one of creditors of the bankrupt company to the detriment of other creditors did not repeat any more.

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