The court refused to transfer the Ivanovo heavy machine tool plant to the state

The Second Arbitration Court of Appeal rejected the claim of the Prosecutor General's Office for the transfer of the Ivanovo Heavy Machine Tool Plant (IZTS) to state ownership, according to materials on the court's website.

Thus, the court ordered the Federal Property Management Agency to return the assets to the former owners of the joint-stock company Ivanovo Heavy Machine Tool Plant, from whom it was seized by the Prosecutor General's Office in 2024, adds RBC.

It is specified that we are talking about Vladimir and Mikhail Bazhanov, who were listed as the owners of the plant as of 2024. The Prosecutor General's Office's lawsuit claimed that their ownership of the company, namely the ownership of 81.8% of shares, was illegal.

Earlier, on February 19, the Prosecutor General's Office demanded shares of the Ivanovo Heavy Machine Tool Plant in favor of the state.At that time, the lawsuit stated that the Prosecutor General's Office had revealed the illegal seizure of state-owned equipment from the state. The decision was made by unauthorized persons and without the permission of the Russian government, the agency notes.