Over 1,000 Sverdlovsk Region businesses undergo bankruptcy proceedings

February 16, 2015. 1,008 Sverdlovsk Region-based companies and sole traders were at different stages of bankruptcy proceedings at the start of the year; this was 12% more than in early 2014, Sverdlovsk Region division of the Federal Tax Service reports.

817 businesses are now involved in insolvency suits and are run by trustees in bankruptcy; this number makes up 81% of all the bankruptcy cases.

180 companies and sole traders (18%) are under observation procedures, one business is undergoing a financial recovery procedure, and ten companies (1%) have been subjected to trusteeship.

95 insolvency claims were placed by creditors with the arbitration court in 2014, which was 43 claims more than in 2013; in 88 cases, insolvency suits were instituted (+40 on 2013).

292 insolvency suits were brought to an end last year, 148 cases were dismissed, (20% of these were closed because the debtors had paid off their debts and in 11% of cases peace settlements were reached).

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