Moscow-based company insists UETM be declared bankrupt

2 March 2015 (13:53)

March 2, 2015. Sverdlovsk Region Arbitration court is going to consider an application by Moscow-based Kronika, which insists that Yekaterinburg-based Elmash (UETM) be declared bankrupt; the claim was placed with the court on February 26, 2015.

As can be inferred from the case-related materials, the court made Elmash pay Kronika over 13m RUR in September 2014. The defendant did not agree with the court’s ruling and tried to appeal against it, yet the 17th Court of Arbitration & Appeals supported the earlier ruling.

Elmash (UETM) was registered as a business on April 28, 2012 and is now one of Russia’s major manufacturer of electric power equipment for production, transfer, distribution, and consumption of energy. The company’s history dates back to 1934; at the moment, it mainly deals in assembly of buildings and structures.

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