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Bankruptcy petition against large Russian industrial company dismissed

13:58 07/09/2016

MOSCOW, September 7 (RAPSI) – The Sverdlovsk Region Commercial Court has dismissed a bankruptcy petition filed by Alfa Bank against large industrial corporation “Uralvagonzavod” without prejudice, the court documents read on Wednesday.

Reasons for declining to review the petition are unknown. Yet, during the previous hearings Uralvagonzavod asked court not to review the petition because of lawsuits filed with the Chelyabinsk Commercial Court over recovery of debts. Proceedings in those lawsuits have not been halted despite the bankruptcy petition. Next hearings in the lawsuits are set for September 27.

On June 10 Alfa Bank filed a bankruptcy petition against “Uralvagonzavod”.

In June the court also registered a bankruptcy petition against the corporation lodged by the “Barnaul Forge and Press Plant”.

On May 20 Alfa Bank announced that Uralvagonzavod’s debt before the bank reaches 10.5 billion rubles ($161 million) and additional $72.2 million. The total amount of arrears is estimated at $52.3 million.

Alfa Bank filed a similar petition against the “Ural Plant of Transport Engineering”, a subsidiary of the corporation.

Uralvagonzavod is heading the integrated structure that unites around 40 industrial enterprises, research centers and construction bureaus in Russia and Europe. It is among TOP-100 largest military-industrial corporations of the world.

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Bankruptcy petition against large Russian industrial company dismissed

13:58 07/09/2016 The Sverdlovsk Region Commercial Court has dismissed a bankruptcy petition filed by Alfa Bank against large industrial corporation “Uralvagonzavod” without prejudice.
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