August 01, 2014 10:42 PM ET

Diversified Telecommunication Services

Company Overview of P&N Telecom Ltd.

Company Overview

P&N Telecom Ltd. offers telecommunication services. The company was founded in 2007 and is based in St. Petersburg, Russian Federation.

Polustrovsky 32

St. Petersburg,  195197

Russia

Founded in 2007

Phone:

7 8127 03 37 73

Fax:

7 8123 35 39 77

Key Executives for P&N Telecom Ltd.

General Director
Compensation as of Fiscal Year 2014.

P&N Telecom Ltd. Key Developments

P&N Telecom Ltd. Files a Motion Contesting the Court's Ruling Obliging to Pay RUB 1.692 Billion in Debt to Sberbank

P&N Telecom Ltd.'s CEO Vladimir Pratusevich has filed a motion contesting the court's ruling obliging him to pay RUB 1.692 billion in debt to Sberbank. Pratusevich wanted the Arbitration Court of St. Petersburg and the Leningrad Region to rehear the case due to newly discovered evidences. The timeline of the hearing has yet to be finalized. In mid-October 2012, the St. Petersburg court ordered Pratusevich to repay the debt, which arose from a loan agreement signed in March 2011 after leasing company TGI-Leasing opened a RUB 1.98 billion credit line with Sberbank and PiN Telecom, and Pratusevich acted as the guarantors of the loan.

Cancellation of PiN Telecom's RUB 5.5 Billion Debt Contested

Russia's Federal Arbitration Court for the Northwest District has registered a suit by Elkhan Muradov seeking to contest the decision of a lower court to cancel a RUB 5.5 billion debt of telecommunications operator PiN Telecom. Muradov wants to revoke a ruling by the Thirteenth Arbitration Court of Appeal that has stricken the debt off the list of creditors' claims against PiN Telecom under a motion filed by the operator's major lender, state-controlled Sberbank. Muradov received the right to demand the debt on a promissory note issued to a Georgy Gaponov in December 2011. The debt was put on the list of creditors' claims last September, but late last year Sberbank asked to remove it due to newly uncovered facts.

Russian Court Registers RUB 1.4 Billion Debt Claim Against P&N Telecom Ltd

The Arbitration Court of St. Petersburg and the Leningrad Region has included state-controlled Sberbank's RUB 1.373 billion debt claim into a list of creditors' claims against the telecommunications operator P&N Telecom Ltd. Sberbank's claim includes the body of a RUB 1.306 billion loan, RUB 29.590 million worth of interest on the loan, as well as penalties for a delay in the loan and interest payments of RUB 38.100 million and RUB 1.140 million, respectively. According to the Supreme Arbitration Court, PiN Telecomacted as a guarantor on the loan agreements signed between Sberbank and leasing company Leasing Group Industry in 2009 and 2010. In September, the court suspended the consideration of a lawsuit filed by Sberbank seeking to include a RUB 1.79 billion claim against PiN telecom because of a ruling of another court. However, the court ruled to include a RUB 5.5 billion debt claim filed by Elkhan Muradov into the list of creditors' claims against PiN Telecom. In June, the St Petersburg court placed PiN Telecom under observation procedures, which filed for a bankruptcy petition in March. In July, PiN telecom was ordered to pay RUB 969.8 million to Sberbank in accordance with a loan agreement concluded between the bank and PiN Telecom in 2010.

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