{"id":11634,"date":"2011-08-15T12:00:00","date_gmt":"2011-08-15T09:00:00","guid":{"rendered":"https:\/\/vo.afonico-test.ru\/novosti-otrasli\/court-seizes-floating-nuclear-plant\/"},"modified":"2011-08-15T12:00:00","modified_gmt":"2011-08-15T09:00:00","slug":"court-seizes-floating-nuclear-plant","status":"publish","type":"post","link":"https:\/\/vosafety.ru\/en\/novosti-otrasli\/court-seizes-floating-nuclear-plant\/","title":{"rendered":"Court seizes floating nuclear plant"},"content":{"rendered":"

The world\u2019s first floating nuclear power plant, currently under construction, has been seized by the Court of Arbitration of Saint Petersburg as the shipyard building it faces bankruptcy proceedings.<\/strong><\/h4>\n

The largest shareholder in the Baltiysky Zavod shipyard, with an 88.3% stake, is United Industrial Corporation, which is owned by Sergei Pugachev. This stake has been pledged to Russia\u2019s Central Bank as collateral for an unreturned loan to International Industrial Bank, another Pugachev-controlled company which was declared bankrupt in November 2010. The shipyard therefore appears on the brink of bankruptcy.<\/p>\n

At the request of Rosenergoatom, the court has now impounded the partly-built vessel at the Baltiysky Zavod shipyard. Rosenergoatom was afraid that it could lose its investment in the 9.8\u00a0billion rouble ($340\u00a0million) project if another claimant seized the shipyard\u2019s assets during bankruptcy proceedings. The Arbitration Court\u00a0\u2014 an independent permanent court under the St Petersburg Chamber of Commerce and Industry\u00a0\u2014 ruled in Rosenergoatom\u2019s favour on 26\u00a0July that the company stood a \u201csignificant risk\u201d of losing its investment in the project.<\/p>\n

Although the vessel\u00a0\u2014 the Akademik Lomonosov<\/em>\u00a0\u2014 has already been registered in the name of Baltiysky Zavod as a ship under construction, Rosenergoatom is seeking to have it re-registered in its name as it claims it is the rightful owner. The vessel, it says, has been built using its funds. A certificate of ownership in Rosenergoatom\u2019s name would prevent the floating plant being seized as part of Baltiysky Zavod\u2019s assets.<\/p>\n

In addition, Rosenergoatom claims that the shipyard\u2019s risk and civil liability insurance for the construction of the floating plant has expired and that Baltiysky Zavod has failed to fulfil its obligation to provide Rosenergoatom with a bank guarantee of return of advanced payments. The court also noted confirmation of the \u201cfinancial hardship\u201d of the shipyard.<\/p>\n

The arbitration court sided with Rosenergoatom and ruled that taking possession of the Akademik Lomonosov<\/em> on the company\u2019s behalf was justified.<\/p>\n

The keel was originally laid for the first floating plant at the Sevmash shipyard in Severodvinsk in April 2007. However, in 2008, Rosatom said that it was to transfer its construction to Baltiysky Zavod because Sevmash was inundated with military contracts. A contract was signed in February 2009\u00a0between Rosatom and Baltiysky Zavod for completion of the plant.<\/p>\n

Despite the seizure, a Rosatom spokesman told the Moscow Times<\/em>, \u201cWork is continuing as normal, and I think it should be commissioned on schedule by 2012.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s first floating nuclear power plant, currently under construction, has been seized by the Court of Arbitration of Saint Petersburg as the shipyard building it faces bankruptcy proceedings. The largest shareholder in the Baltiysky Zavod shipyard, with an 88.3% stake, is United Industrial Corporation, which is owned by Sergei Pugachev. This stake has been…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-11634","post","type-post","status-publish","format-standard","hentry","category-novosti-otrasli"],"translation":{"provider":"WPGlobus","version":"3.0.6","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false}}},"acf":[],"yoast_head":"\nCourt seizes floating nuclear plant - JSC \u201cVO \u201cSafety\u201d<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vosafety.ru\/novosti-otrasli\/court-seizes-floating-nuclear-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court seizes floating nuclear plant - 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