InnoGarant might go bankrupt

14 December 2010 (09:15)

‘The bankruptcy claim that has been placed against InnoGarant recently has nothing to do with the situation around Capital Tours. The application was actually placed by one of the insurance company’s customer, not a tourist. To the best of my knowledge, her claims have either been settled out of court or are just about to be settled. We keep in touch with InnoGarant’s management,’ Capital Tours’ General Director Inna Beltyukova told TourBusiness, a web portal.

InnoGarant, the insurer of Capital Tours, was faced with a bankruptcy claim a few days ago. In case the company is actually declared bankrupt, hundreds of Capital Tours customers will lose all the chances of getting a compensation for the trips they never made. The insurance company’s creditor banks refused to prolong InnoGarant’s million-ruble loans any further, so Capital Tours became unable to keep expanding as it used to. As a result, the tour operator’s accounts were frozen and thousands of tourists were left stuck abroad.

Inna Beltyukova explains the company is planning to instruct its customers on the order of applying to the insurer for compensation. So far, no compensation payments have been made. As for the travelers who were insured against not going because of a tour operator’s bankruptcy, these customers will only get their money after Capital Tours is declared insolvent, TourBusiness says.

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