Arbitration Court to declare Alfa Ural insolvent

Sverdlovsk Region Court of Arbitration started hearing case Ŕ60-40279/08 regarding Alfa Ural Trading House’s possible insolvency on January 16, 2009.

According to the court files, the company placed its application with the court on December 19, 2008, asking to declare their bankruptcy. Alfa Ural claimed they were unable to meet their liabilities in full since the amount of debt exceeded the cost of the company’s property and assets.

The accounts payable indicated in the application came to over 81.957 million RUR.

The company is undergoing bankruptcy proceedings at the moment, with the trustee in bankruptcy to be appointed on January 16, 2009.

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