Russian car factory Moskvich is no longer facing bankruptcy; because the capital court decided to suspend the conduct of the case to collect the debt to the Hong Kong company Silver Basis. This was reported by the press service of the manufacturer’s technology partner KamAZ.
“Last week, Moskvich filed an appeal, the court suspended the conduct of the debt collection case. Therefore, at the moment, Silver Basis has no grounds to apply to the court to declare MAZ Moskvich JSC insolvent (bankrupt),” the statement said.
It was previously known that the company was Silver Basis Investment Development Company. intend appeals to the capital’s Arbitration Court to declare the Moskvich plant bankrupt due to a huge debt.
But Moscow statedHe rejected the terms of bankruptcy and pointed out that the message regarding the intention to go to court in a statement issued on behalf of Silver Basics (HK) Investment Development Company Limited did not reflect the real financial situation of the facility.
The Moskvich automobile plant is located on the territory of the former Renault Russia plant, which was transferred to the Moscow government by the French automobile concern Renault in May 2022 after the cessation of its work in Russia.
Previously Moskvich car brand hit Among the top ten leaders of the Russian automobile market.
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Source: Gazeta
Anika Rood is an author at “Social Bites”. She is an automobile enthusiast who writes about the latest developments and news in the automobile industry. With a deep understanding of the latest technologies and a passion for writing, Anika provides insightful and engaging articles that keep her readers informed and up-to-date on the latest happenings in the world of automobiles.