Capital Tour to start bankruptcy proceedings on February 14

On February 14, 2011 Moscow Arbitration Court will decide whether OOO Capital Tour’s bankruptcy application is well grounded, RIA Novosti refers to a court functionary as saying to the Russian Agency of Legal and Court Information.

Capital Tour’s debts run up to 1.3 billion RUR altogether, including 45 million RUR the company owes to Credit Bank of Moscow.

The tour operator’s accounts were frozen by the bank on November 11, 2010. Five days later, the company announced it was having a hard time meeting its tour obligations. Over 8,000 customers happened to be abroad at the time Capital Tours announced a halt in its entrepreneurial activity.

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