The court ordered Semey Bus LLP to transfer the buses to the Industrial Development Fund JSC

As previously reported, within the framework of the Comprehensive Program for the Development of Bus Transportation for 2018-2020, JSC " Industrial Development Fund "in 2018 financed the leasing project" Renewal of public transport in Semey "at the request of" Semey Bus " LLP (hereinafter – the lessee). 170 units of buses were transferred to the lessee to provide passenger transportation services in the city of Semey. During the implementation of the project, JSC "Industrial Development Fund" has repeatedly provided support to the lessee, including the postponement of the payment of lease payments, the restructuring of the transaction, including in connection with the global Covid-19 pandemic and restrictions on passenger transportation.
Semey Bus LLP did not fulfill the terms of the restructuring both before the outbreak of the pandemic and after the removal of restrictive measures by state authorities. The default period was more than 440 days. As of April 16, 2021, there was a debt of more than 4 billion tenge. On the part of the lessee, no measures were taken to repay the debt, in connection with which, JSC "Industrial Development Fund" repeatedly sent notifications to the lessee about the presence of overdue debts, as well as a warning about the possible reclamation of leasing items that were left without execution by the debtor.
Due to the repeated violation by the lessee of the obligations under the financial leasing agreement and the resulting debt, the refusal to voluntarily transfer the buses to the owner, the decision of the Management Board of JSC "Industrial Development Fund" declared an economic default to the lessee.
On May 5, 2021, JSC "Industrial Development Fund" filed an application to the Specialized Interdistrict Economic Court of the city of Nur-Sultan for the recovery of leasing items, which was fully satisfied.
Currently, a procedure has been initiated for the withdrawal of buses and the search for a new lessee to ensure regular passenger transportation in the city of Semey.