NEWS & EVENTS: Breaking News
19.06.2009 13:31
June 19. The Moscow Arbitration Court (MAC) ruled Thursday to declare Incom-Lada bankrupt and initiated bankruptcy proceedings, as the company’s property is not sufficient to settle all debts, a business daily wrote. The parent company of one of the country’s biggest dealer holdings in 2007, Incom-Avto, filed for bankruptcy on March 26. Olga Matveyeva was appointed a bankruptcy manager and she should prepare and present a report on the situation surrounding the company at a next court hearing on December 18. With a reference to the legal portal pravo.ru the newspaper wrote that an Incom-Lada representative said at the hearing that the company’s property is not sufficient to make payments to creditors, as only RUB 147,000.00 is available on its accounts against the holding’s liabilities of around RUB 6.5 bn. Meanwhile, Incom-Lada’s assets are estimated at RUB 3.1 mn and receivables are equal to RUB 1.5 bn.
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