(23 February | Source: press service of the Pavlodar regional prosecutor's office)
In the Pavlodar region, encumbrances have been lifted from the property of the «BIK» Peasant Farm, which has allowed the resumption of construction of a dairy farm for 500 head costing 3.5 billion tenge. Previously, the investor's assets remained restricted.
HOW THE SITUATION DEVELOPED
Peasant Farm «BIK» raised credit funds secured against property to implement the dairy farm project costing 3.5 billion tenge. According to the prosecutor's office, the farm duly fulfilled its obligations, paying the creditor 500 million tenge of the principal debt without a single late payment.
Despite this, the pledgee refused to lift the encumbrances, which effectively «froze» the assets and made further financing and construction impossible, as well as the creation of new jobs in the region.
INTERVENTION OF THE PROSECUTOR'S OFFICE
The prosecutor's office of the Uspenka district, coordinated by the Committee for the Protection of Investor Rights, initiated negotiations between the farm and the pledgee. As a result, an agreement was reached, and all encumbrances on the property of Peasant Farm «BIK» were lifted.