VTB Bank asks to return money back
As reported by RIA Novosti, a state loan “thumbnail” cannot repay without state subsidies…or the approval of the state President.
VTB suggested to Lenfilm two options on loans: to declare a default (bankruptcy?) or ask help from authorities for repayment of the loan, said the head of the financial group Andrey Kostin.
“In 2013, the loan was issued under the guarantee of the Russian government. Unfortunately, not everything they did today, a business plan is not fulfilled,” – said Kostin on the sidelines of the Moscow financial forum.
“Lenfilm” in 2013 signed an agreement with VTB under which the Bank provided the Studio with a credit line in the amount of 1.53 billion rubles for ten years.
The Director Fyodor Bondarchuk, who heads the Board of Directors of “Lenfilm”, asked Vladimir Putin to provide film Studio a subsidy for the repayment of this loan.
“If Vladimir Vladimirovich would support an appeal of a novel, and “Lenfilm” will receive state support, it will be repaid. But we believe that if it is not, then he is to repay it can not” – said the head of VTB.
In addition, “thumbnail” produces unprofitable products, which the government (that is taxpayers) provides funds separately from one and a half billion allocated for the reconstruction of the Studio. Which began: on the “thumbnail” – complete desolation. And Mr. Bondarchuk, the head of the Board of Directors, without doing anything, once again requests one and a half billion now to pay the debt. Interesting information. Where half a billion – again – taxpayers ‘ money?
Below the comment of Sergei Lavrov, an expert on film distribution:
The “achievements” of the film Studio “Lenfilm” for the last FIVE years in our box office (October 2013 – October 2018)
“One summer day” (budget – 12 million roubles, charges – 0.2 million rubles)
“Bird” (b – 55 million rubles, with 0.5 million RUB)
“Crowded” (b – 12 million rubles, with 5.6 million rubles)
“Three days until spring” (b – 120 million rubles, with 8.5 million rubles)
“About love” (b – 120 million rubles, with 12.1 million rubles)
“Petersburg. Only love” (b – 68 million rubles, with – 16.6 million rubles)
“Contribution” (b – 248 million rubles, with 5.5 million rubles) R
“Aswad on their own” (b – 38 million rubles, with 0.5 million RUB)
“The voice” (b – 74 million rubles, – 0.8 million rubles)
Total: all budgets – 747 mln, all charges – 50.3 mln.
The losses of these films without the cost of advertising and marketing and without a share of the distributors – RUB 720 million.
Again, funds for the production of films and the reconstruction of the Studio – two cash flow.