Belaya Bashnya Invest applies for bankruptcy

Belaya Bashnya Invest Investment Company placed its insolvency application with Sverdlovsk Region Arbitration Court. The date of the first hearing has not been set yet.

The company’s license allowing it to perform brokerage and dealing operations and deal in securities management was annulled by the Federal Financial Market Service as early as September 2009. The decision was preceded by the company’s own application and the examination of some documents that proved Belaya Bashnya Invest had no failed liabilities.

In fact, the company’s management declared a year ago that they were going to attract new investors and to have the business reorganized. They also said they intended to go through with an IPO within the next three years.

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