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Pnevmostroymachine undergoes bankruptcy proceedings

February 17, 2015. Sverdlovsk Region Arbitration Court ruled that OAO Pnevmostroymachine should undergo bankruptcy proceedings.

On December 5, 2014, a claim was placed with the court by Raifffeisenbank; the plaintiff insisted that Pnevmostroymachine be declared insolvent due to its 29m-ruble debt; the claim was called off after a peace settlement. However, on December 12 the defendant itself submitted an insolvency application.

According to the files relating to the case, the company admitted owing 2,357,312,913 RUR to its creditors as of November 1, 2014. The company’s current assets amount to 1,259,464,796 RUR.

Given this information, Sverdlovsk Region Arbitration Court ruled that the debtor should undergo bankruptcy proceedings. Eduard Chu of North-West Self-Regulatory Organization of Bankruptcy Commissioners, a non-commercial partnership, was appointed the company’s trustee in bankruptcy.
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