Content |
History
2022: Seizure of funds
At the end of October 2022, the Arbitration Court of St. Petersburg and the Leningrad Region imposed interim measures on the funds of the Russian subsidiary Hyundai - Hyundai Engineering Rus LLC. The arrest was made at the suit of the St. Petersburg construction company StroyTechImportat (STI).
At the end of 2021, STI decided to recover from Hyundai Engineering Rus, which is building car plants, debt under one of the contracts for the construction of the Hyundai Wia engine plant (Hyundai Via Rus LLC) in St. Petersburg, as well as interest for evading payment of the required amount. The amount of the claim amounted to about 16 million rubles.
In October 2022, Stroytekhimport appealed to the arbitration court with a petition to impose interim measures on the claim, fearing the possible departure of Hyundai from the Russian market. The company referred to reports in the Russian and South Korean media, as well as information about layoffs at the Russian factories of the automobile concern.
 | From the media reports presented by the plaintiff, it follows that Hyundai is also considering leaving the Russian market, closing and selling existing plants. In this case, all the property of the company will be sold, and the existing assets will be withdrawn, and if the claims declared within the framework of this claim are satisfied, the corresponding decision will be virtually unenforceable, the court ruling says. |  |
The Hyundai plant in St. Petersburg extended the downtime until December 2022. They suspended the production of cars from March 1, 2022 due to difficulties with the supply of components. According to media reports, Hyundai is thinking about selling the plant, as it can no longer "conduct normal financial activities." At the same time, the company continues to pay salaries and pay taxes.
The company produced Hyundai Solaris, Hyundai Creta, Kia Rio and Kia Rio X-Line models. The capacity of the plant is more than 200 thousand cars per year.[1]
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |