The court arrested 15.8 million rubles on the accounts of the Hyundai structure in Russia
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The Arbitration Court of St. Petersburg and the Leningrad Region seized the funds of Hyundai Engineering Rus LLC in the amount of 15.85 million rubles. As stated in definition court, the decision was taken as an interim measure on the claim of StroyTekhImport LLC (STI).
The St. Petersburg construction company, based on media reports about Hyundai’s alleged withdrawal from the Russian market and the sale of the company’s assets, stated the risk of non-enforcement of the court decision if interim measures are not taken. The court recognized the plaintiff’s arguments as justified, notifying the participants in the case that, upon a reasoned petition, interim measures could be canceled. The decision can be appealed to the appellate instance within a month.
In November 2021, STI filed a lawsuit to recover RUB 14.76 million from Hyundai Engineering Rus LLC. and interest in the amount of 1.09 million rubles. under a contract for the installation of metal structures as part of the construction of a plant for the production of engines “Hyundai Via Rus”. The case in the court of first instance has not yet been considered – the trial has been postponed several times.
The Hyundai WIA plant with a design capacity of up to 330 thousand engines per year and a cost of 15.8 billion rubles. was put into operation in Sestroretsk in September 2021. The Hyundai car plant in St. Petersburg, opened in 2010, suspended work in March of this year, the downtime at the enterprise was extended until the end of November. In mid-October, the Korean media reported that, as part of an analysis of the prospects for activities in Russia, the management of the automaker is also considering the option of selling Russian assets.
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