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Pnevmostroymashina undergoes bankruptcy proceedings

The creditors of Pnevmostroymashina decided that the company should undergo bankruptcy proceedings and appointed Eduard Chu the company’s trustee in bankruptcy. This decision was taken at the creditors’ first meeting.

According to Pnevmostroymashina’s official representative Pavel Anokhin, the creditors, who have over 96% of the votes, supported the company management’s proposal regarding bankruptcy proceedings and having Eduard Chu as the trustee in bankruptcy. The only person to disagree with the creditors’ opinion was the representative of Bank Société Générale Vostok.

The decision taken by the creditors now has to be confirmed by the arbitration court.

Pnevmostroymashina applied for bankruptcy in the fall of 2009, and the court ruled this was a well-grounded decision. The company has over sixty creditors, including Raiffeisen-Bank Austria’s Ural branch, ZAO KAB Bank Société Générale Vostok, and UniCreditBank.
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