The Supreme Court decided to return the Ivanovo Heavy Machine Tool Plant to the Russian Federation

The Supreme Court of Russia has granted a claim for the return to state ownership of the Ivanovo Heavy Machine Tool Plant, which is of strategic importance for the defense and security of the Russian Federation. This was announced on October 23 by the press service of the department.

"The Supreme Court of the Russian Federation has considered a claim against JSC IZTS, LLC Techinvest, LLC Investproekt, as well as individuals to claim shares of JSC Ivanovo Heavy Machine Tool Plant, JSC IZTS and JSC Machines and Tools in favor of the state," the court said in a statement on its website..

It is specified that in December 1992, the Property Management Committee of the Ivanovo Region Administration decided to transform the plant into a joint-stock company, and also approved a privatization plan. As a result, the company's property was included in the authorized capital.

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On the same day, the Prosecutor General's Office of the Russian Federation announced that the Privolzhsky District Court of the Ivanovo region had satisfied the claim for the use of real estate, shares in companies and illegally obtained income of more than 1 billion rubles by the former head of the Ples Alexei Shevtsov (recognized in the Russian Federation as a foreign agent). It is specified that for ten years until 2015, Shevtsov provided patronage to controlled commercial organizations of the real estate market, hotel services and catering in the city of Ples.

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