| Home Page
General Info
Government
Publications
Economics
Small Business
Investments
Education
Culture
Geography
Youth
Maps
Links
TOLMACH
NEWSLETTER
BACK
CONTACT US
|
Administration
of Khabarovsk Krai
Department of Foreign Economic Relations
72, Frunze St., Khabarovsk 680000 Russia
Tel / fax: +7 (4212) 32-41-21
www.adm.khv.ru
e-mail: vnesh@adm.khv.ru
PRESS
RELEASE
March 04, 1999
Khabarovsk, Russia
By: The Department of Foreign Economic Relations
Sergey Ivanovich Lopatin
Contact Phone: (4212) 32-41-21
Khabarovsk
Krai is Attempting to Solve a Long-term Conflict with
Investors
The Russian-Japanese joint venture "Kiama-Avia"
was registered in 1992, is one of the largest and most
promising enterprises in the Khabarovsk Krai. However,
the current situation of that enterprise is causing
serious anxiety among the Krai Administration and
investors.
The main activity of the enterprise is the operation of
The International Air Terminal in Khabarovsk, which was
built in 1993 with a loan from the Japanese Construction
Company, "TIC Industries".
Although the enterprise has operated for 8 years, the
stockholders of "Kiama-Avia" did not form the
required capital. This fact was proved with an audit,
which was conducted by the independent international
auditing company "Coopers & Lybrand".
The disagreements between the stockholders on forming the
statutory capital came to a head when Japanese
stockholder (JS "Kiama-Sedzi") took the
"originals" of the joint venture's charter
documents into Japan, violating established regulations
under Russian Federation Law.
The result of the conflict between stockholders grew in
to a court case, and it became impossible to conduct
financial operations paying back the lender. The
situation is becoming more complicated due to the fact,
that the president of the company JS
"Kiama-Sedzi" was arrested on a charge of
committing illegal financial operations in Japan.
The Khabarovsk Krai Administration is extremely
interested in restoring the enterprise's activity back to
normal, and is making efforts to re-establish partners
relations between stockholders and pay back the loan. In
the beginning of February 1999 a meeting under the head
of the Krai, Governor Ishaev V.I. was conducted, and
possible and positive ways out the critical situation of
the joint venture were considered. As the result of the
meeting certain decisions were made and instructions were
given, which should assist in returning the loan to
"TIC Industries".
The Khabarovsk Krai Administration will make further
efforts to solve the conflict in the joint venture and
fulfil the obligations to the Japanese creditor.
The Head of the Foreign Economic Department
Khabarovsk Krai Administration.
Sergey I. Lopatin
/ Maps / Contact us / Next /
/ Attorney / Business Consulting / Translators & Interpreters
Services / Friends of Russian Children - charity help to the homeless
kids in the Foster Home / International Family - special dating services. Also
you can find here more information about us.
Hello Russia - FREE
Weekly E-Zine -
Far Eastern
regional political, economics, culture, crime and other
events.
Click here to
subscribe:  and please mention you name and
address.
|
