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Court puts baby food industry giant under supervision

12:25 24/10/2011

MOSCOW, October 24 - RAPSI, Natalia Belova. A commercial court put the Nutritek Group's head company under supervision on Monday, the Russian Legal Information agency (RAPSI) reports from the courtroom.

Nutrinvestholding is the parent company of Nutritek, a top Russian baby food producer.

The Moscow Commercial Court will hear the company's bankruptcy case on February 28, 2012.

The court has upheld the application filed by Detskiye I Molochnye Produkty (Children's and Diary Products) to declare the company bankrupt and included its claims for 11 million rubles ($351,000) into the debtor's schedule of creditors.

At the Monday hearing Nutrinvestholding stated that it continues its operation during the supervision and hopes to reach settlement with its three creditors.
Nutrinvestholding is undergoing a debt rescheduling.

Established in 1990 Nutritek Group owns five factories, three of them - in Russia, one in Ukraine and one in New Zealand. A 40-percent stake in the group is controlled by its founder Georgy Sazhinov, about 35 percent - by Marshall Capital while the remaining 25 percent of shares are in free float.

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Court puts baby food industry giant under supervision

12:25 24/10/2011 A commercial court put the Nutritek Group's head company under supervision on Monday.
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