New leadership of Kamchatka's biggest fishing co-op reporting rising production indices

Kamchatka-based Imeni Lenina Fishing Co-op, one of the largest producers in the region, has reported a rise of its operational indices (including seafood sales and proceeds) as compared to the first half of 2008, the boost achieved partly thanks to recent managerial changes connected with election of the co-op's new leadership in March 2009, according to the company's chairman Sergey Tarusov quoted by www.fishnet-russia.com (www.fishnet.ru).

More specifically, at the meeting in March 2009 the co-op's collective dismissed chairman Vladimir Drachyov from his post and appointed Sergey Tarusov new chairman. The leadership filed an action at Kamchatka's Court of Arbitration against the agent company VIRGO GROUP Co Ltd (controlled by Dmitry Drachyov, a son of ex-chairman Vladimir Drachyov) which is being accused by the new management of frequent violations of its liabilities. The court action is aimed at breaking the cooperation agreement between the two sides.

Before the dispute VIRGO GROUP has been engaged in intermediary activity as an agent of Imeni Lenina Fishing Co-op and has been using the co-op's material and financial means. According to Sergey Tarusov, now VIRGO GROUP is the co-op's debtor who has failed to pay more than 3.5 million USD for seafood shipments. Moreover, as the co-op's agent on fuel provision VIRGO GROUP has not paid to the fuel supplier HSH Company (though the co-op has duly transferred the necessary sum of money to the account of VIRGO GROUP) and, with the help of fake documents, provoked an arrest of Technolog transport reefer under the suit of HSH Company, explained Tarusov.