On March 6, the Arbitration Court of the Rostov Region rejected the petition of the non-core assets bank “Trust” and interregional INFS No. 25 of the Rostov Region on the initiation of bankruptcy procedure in relation to LLC. Azov-Don Development Corporation (“ADDC”). Relevant information is published on the court’s website.
Representatives of the “Trust” note that this decision was taken for the thirteenth time, emphasizing that the failure to file bankruptcy contributed to the accumulation of debts of ADDK LLC to creditors.
The bank explains that the debt of ADDK LLC to the budget is already more than 22 million rubles. and it continues to grow, the debt to the Trust is more than 400 million rubles.
Recall that the interregional INFS No. 25 of the Rostov Region filed an application with the Arbitration Court of the Rostov Region in January 2020 to declare ADDK LLC bankrupt.
Thus, the paperwork goes on for more than three years – five times the time established by law from the date of receipt of the application from the creditor to declare the debtor bankrupt.
In September 2021, the first meeting of creditors of ADDK LLC was held, and according to the voting results, it was decided to file for bankruptcy to sell ADDK LLC’s property under court control and direct the proceeds to payment. From ADDK LLC’s debts to creditors .
However, the debtor requests for the postponement of the hearings, which are satisfied by the court. The trial has now been adjourned to April 12.
Representatives of the “Trust” state that the bank is interested in paying off the debt and will continue to insist on initiating bankruptcy proceedings until its requirements are met.