Court of Arbitration states HydroSpetsStroy Ltd. to go through bankruptcy proceedings
19 March 2007 (09:38)
Sverdlovsk Region Court of Arbitration stated that HydroSpetsStroy Ltd. (general contractor of Noviy Grad, the developer) should go through bankruptcy proceedings with Olga Rushitskaya as the trustee in bankruptcy. Ms Rushitskaya now has to hold a meeting of the company’s creditors and decide upon a self-regulating organization whose members would then appoint the trustee in bankruptcy themselves.
‘My predictions have come true: I knew there was no other way for HydroSpetsStroy Ltd. but to go through bankruptcy proceedings, as it appears impossible to restore the company’s solvency,’ Ms Rushitskaya said to UrBC.
The company owes its creditors over 55 million RUR.
‘My predictions have come true: I knew there was no other way for HydroSpetsStroy Ltd. but to go through bankruptcy proceedings, as it appears impossible to restore the company’s solvency,’ Ms Rushitskaya said to UrBC.
The company owes its creditors over 55 million RUR.
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Other materials on the topic::
- Hydrospetsstroy still goes through bankruptcy proceedings
- I am dealing with HydroSpetsStroy’s bankruptcy proceedings now, says Olga Rushitskaya
- Law machinery might be needed to handle case of HydroSpetsStroy Ltd., says company’s acting trustee in bankruptcy
- Insolvency of HydroSpetsStroy means all assets will be sold by auction, reports company’s acting trustee in bankruptcy
- Enforcing bankruptcy proceedings on HydroSpetsStroy Ltd. is only fair, says Affordable Housing NGO