MIAN Development undergoes bankruptcy proceedings

Moscow Arbitration Court ruled that ZAO MIAN Development must undergo bankruptcy proceedings, Interfax reports.

It was explained to the reporters that Igor Kulakov would be appointed the company’s provisional trustee in bankruptcy.

This means the court accepted MIAN Development’s bankruptcy application. The debtor’s representative announced in the course of a court session that the company’s debts totaled to 10.5 billion RUR, whereas its assets (including the accounts receivable) amounted to 7.5 billion RUR. The company had no immovable or movable assets; nor did it have any arrears of wages. Also, MIAN Development now owes money to 151 creditors, Interfax says.

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