Black Sea Fleet started to pay off debts to Ukraine

25.10.2010 Enterprises of Russia's Black Sea Fleet (BSF) started to redeem debts to Ukrainian tax authorities, superannuation fund, social insurance fund, and pay off wage arrears, reported BSF Information Support Group.

"In accordance with decisions of Russian defense minister and BSF Commander, the gradual debt repayment of some enterprises has been started; those funds are appropriated to Ukraine's state budget, public funds, and to redeem staff wage arrears", said the release.

In particular, BSF design engineering bureau received an order and appropriate prepayments. That made it possible to kick off debt redemption to Ukrainian superannuation fund and to the bureau's employees.

Besides, receipt of funds from Russian defense ministry allowed paying off wages for June and July 2010 to staff of BSF ship-repair plant.

"Speaking of BSF Building Dept, we determined the investor for wage arrears redemption... It is planned to settle arrears till the current year is over", said the press-release.

According to BSF information, in 2009 payments to Ukrainian budget and public funds reached UAH 408.1 mln which is 17 per cent bigger than in 2008.

In Sept 2010 Sevastopol city court initiated bankruptcy proceedings against BSF Building Dept because of indebtedness to Sevastopol branch of Ukrainian industrial accident insurance fund.

According to the complainant, in 2009 the building department owed insurance fund UAH 318,000 (about $40,000); from that moment the debt has been grown triply and now makes over UAH 1 mln (somewhat $125,000).