Alfa Motors goes bankrupt

UrBC, Yekaterinburg, October 12, 2010. Sverdlovsk Region Arbitration Court keeps looking into ZAO Alfa Motors (Avtosun Group) bankruptcy case.
The Group’s show rooms offer their customers such automobiles as Mazda, Ssang Yong, and Hyundai.
On July 8, 2010, OAO Bank Severnaya Kazna placed a claim against ZAO Alfa Motors, its debtor, with Sverdlovsk Region Arbitration Court. The plaintiff wanted the defendant to be declared insolvent since the car dealer hadn’t been paying the 139.2 million RUR it owed the bank under loan agreement VKU-2007-2393 as of November 28, 2007 for over three months.
At a court session on October 4, 2010 the debtor’s representative explained the company was planning to pay the money back and provided a written statement thereof as well as a number of documents relevant to the case. Both the plaintiff and the defendant asked for the hearing of the case to be postponed so that the debt could be paid off.
The court agreed to these requests, with the next hearing scheduled for November 10, 2010.


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