Company history Stroymontazh

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1 company history

1.1 1990s
1.2 division of business polonsky
1.3 business growth in 2000s
1.4 dispute baltisky bank





company history

the company created in 1994 artur kirilenko , sergei polonsky.


the 1990s

stroymontazh specialised in construction , renovation work on built residential properties. during period of “non-payments crisis” of 1994-1995 in russia, experiencing severe liquidity deficit developers began use apartments form of barter payment stroymontazh. company gained expertise in marketing residential properties , created strong sales team. in 1996 stroymontazh took on first full-cycle project – construction of apartment building in st petersburg’s suburbs.


in 1995-98 stroymontazh continued building competences general contractor on residential construction projects leading property developers of st. petersburg, evolving full-fledged development company own portfolio of investments 1998-99.


by 2000 stroymontazh had become corporation. portfolio included projects whole new residential areas in st. petersburg. had own architecture firm , business divisions in construction , building materials.


division of business polonsky

in 2000 stroymontazh opened subsidiary branch in moscow headed sergei polonsky while kirilenko concentrated on business in st. petersburg. in 2002 polonsky , kirilenko divided business between them , in 2004 based on moscow subsidiary, polonsky formed company mirax group , subsequently exited stroymontazh; following division of business, artur kirilenko became principal owner of stroymontazh.


business growth in 2000s

in years following 2000, stroymontazh saw exponential growth in business; if in 1999 stroymontazh completed , commissioned 6 buildings total gross floor area of 55,000 square metres, in 2002 corporation built 120,000 square metres in st. petersburg, , in 2003 - 320,000 square metres, 20 building projects running simultaneously.


in 2008 company sold 286,000 square metres of residential property. total portfolio totalled 1.5 million square metres. company’s subsidiary hermitage sas worked on project build 110,000 square metres of residential property in outskirts of paris, france.


dispute baltisky bank

at height of financial , economic crisis in 2008, construction sector experienced severe liquidity shortage, baltisky bank, 1 of stroymontazh’s creditors, raised interest rates on existing loans several times , requested immediate repayment before maturity date. 2009 situation turned corporate war when baltisky bank launched series of lawsuits against stroymontazh view seizing company’s assets @ fraction of market value. @ end of april 2009 baltisky bank brought 2 claims against main shareholder of stroymontazh, artur kirilenko credit guarantor company of loans; subsequently declined court. criminal charges against mr kirilenko, followed on litigation, dropped in 2011 inquiry found no sign of criminal conduct or wrongdoing in kirilenko’s actions.


in 2009 stroymontazh filed bankruptcy, describing “necessary measure”, in order defend interests of private equity investors, in particular home-owners-to-be (“dolshchiki”) against hostile actions of baltisky bank.


in 2010 court granted stroymontazh’s application bankruptcy, company entered bankruptcy administration , kirilenko resigned company president. start of insolvency proceedings, stroymontazh had completed residential construction projects meeting obligations homeowner-to-be investors under shared-equity schemes , restructured debt 1 creditor bank: bank of st petersburg, sberbank, alfa-bank, baltinvestbank, rosbank, credit europa bank, , others, while baltiisky bank rejected restructuring offer. transactions involving stroymontazh’s assets undertaken before company went administration subsequently found inquiry economically justified, “that is, improving financial position of company, enabled company complete construction of residential properties private investors , repay amounts owed other creditors”. there no sign of fraudulent activities, such unfair (voidable) preference, asset hiding or other criminal conduct associated bankruptcy found inquiry.


stroymontazh in bankruptcy administration 5 years , on 14 july 2015 company struck off russian companies register , deemed wound .








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