On 16 December 2013, an auction has been schedule for the sale of rights (claims) on loans issued by Sberbank of Russia and its affiliated structure SBK Invest to the company Faeton – network number 1.

The auction will be held according to the Dutch scheme (by decrease).
Starting price - 1 919 211 396.80 rubles (the sum of the company’s debt to the bank).
Minimum sale price - 550 000 000 rubles.
Auction step by decrease - 68 460 569.84 rubles.
Auction step by increase - 10 000 000 rubles.

The property of the Faeton serves as a pledge under these agreements:
5 service stations (in the village of Strelna, on Frontovaya Street 8b, on Matyushenko Lane 3, in Tosno at the 53 km mark of Moscow Highway, on Kubinskaya Street 74, and on Bogatyrsky Prospect 12/2;
business center on Gagarinskaya Street 6/1, A, area 4,581.9 sq.m.;
land plot of an area of 42.7 hectares for construction in the village of Strelna (next to the Konstantin Palace);
land plot of an area of 4.9 hectares in the Leningrad oblast, in the village of Maloe Verevo.
land plot of an area of 5,003 sq.m. for a service station in the village of Shushary, on the territory of the Detskoselskoe factory;

“In this case we have a unique situation, when practically all of the objects that serve as pledges on loans are highly profitable. But of special interest are the service stations, the land plot next to Konstantin Palace and the business center on Gagarinskaya Street.

 “As potential buyers we are primarily looking at companies that have their own service station networks, as service stations are the main pledged asset on these agreements. Additionally, we will make a proposal to develop structures, taking into account the fact that among the pledge objects there are major land assets, including a land plot of an area of 42.7 hectares in the Petrodvorets district, next to the Konstantin Palace”. (Andrei Stepanenko, general director of the Auction House of the Russian Federation)

 “The purchaser of these assets will take the position of the only secured creditor in relation to the indicated property in the bankruptcy procedure of the Faeton company. This purchaser will determine the procedure and conditions for the sale of these assets, and receive from 80 to 95% profit from their realization. Taking into account the liquidity of the assets, we may predict that the purchaser’s profit will significantly exceed the cost of acquiring the claims at auction. If the assets are not realized in bankruptcy proceedings after the second auction, the secured creditor may keep them”. (Olga Zheludkova, head of department for pledged property of the Auction House of the Russian Federation).