Alfa Bank plans to appeal to the arbitration court to request the bankruptcy of the Cypriot organization DTS Retail LTD, which owns 69.25% of Svyaznoy Network. This was reported by Kommersant with reference to the EFRSB database.
Retailer Svyaznoy has been in bankruptcy proceedings since June 2023; The company itself has submitted the corresponding request. The size of its liabilities significantly exceeds its assets.
Last year, the retailer received more than 80 claims from creditors worth approximately 20 billion rubles. Alfa Bank subsequently filed claims against Svyaznoy’s parent company, DTS Retail, for 7.67 billion rubles and 548 million rubles. The last requirement was fully satisfied.
According to Case by Case lawyer Yulia Mikhalchuk, it is more profitable and convenient to bankrupt a foreign company than to hire lawyers abroad.
In addition, for bankruptcy proceedings abroad, the bank will first have to go through the procedure in Cyprus to recognize the decision of the Russian court to collect the debt. This can also be difficult.
Author:
Natalia Gormaleva
Source: RB
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