The Economic Court of Mogilev Region has initiated bankruptcy proceedings against LLC "BNBC-AGRO Glusk". This is a subsidiary of the Belarusian National Biotechnology Corporation (BNBC), established in 2022 after BNBC was transferred lands in several regions of the country, including the Glusk district, writes Office Life.
In 2022-2023, BNBC actively expanded its raw material base. In the Bobruisk district, the corporation received shares of three agricultural enterprises under trust management for three years, and in the Glusk district — six organizations.
In 2023, BNBC planned to increase its production volume to one million tons, therefore, it urgently needed significant agricultural land. Later, the government decided to transfer part of the lands to the corporation in other districts of Belarus as well — Pukhovichi, Osipovichi, and Bykhov.
It was reported that BNBC invested about 60 million rubles in the development of agricultural production in the Glusk district. However, the corporation's subsidiary in this district is now in the liquidation stage. The BNBC supervisory board made the corresponding decision back in August.
The enterprise could not complete liquidation without bankruptcy proceedings due to significant debts that far exceed the value of its assets. As reported in court, the total debt of LLC "BNBC-AGRO Glusk" to creditors amounts to over 10.8 million rubles.
At the same time, the enterprise's assets were valued at approximately 116 thousand rubles. More than 112 thousand of this amount is accounts receivable — money that should be paid to the enterprise itself.
The next court hearing in the case is scheduled for January 29. According to Office Life's assessment, the probability of the organization's bankruptcy is almost one hundred percent.
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