Court looks into Pnevmostroymashina’s bankruptcy application

Sverdlovsk Region Arbitration Court is to consider Pnevmostroymashina’s insolvency application on October 5, 2009. The court has to decide just how well grounded the company’s bankruptcy claims are.

Pnevmostroymashina actually placed its application with the court on September 3, 2009. Five days later, KAB Bank Société Générale Vostok placed its own claim with the court, demanding that their debtor be declared bankrupt. Since Pnevmostroymashina was the first to apply for bankruptcy, the bank’s claims will only be considered by the court after the insolvent company’s case has been dealt with.

Meanwhile, Pnevmostroymashina currently owes over 700 million RUR to a number of banks, including AKB Absolut Bank, Bank VTB, and Raiffeisenbank.


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