The Russian subsidiary of the largest American software developer Oracle has never paid its debts to local companies after leaving the Russian Federation. Oracle Computer Equipment’s debts are estimated at 1.43 billion rubles, according to the review of the head of arbitration Yegor Nepomnyashchikh in the bankruptcy case.
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In March 2022, Oracle, along with other major foreign companies, suspended operations in the Russian Federation due to the start of a special military operation. Its “daughter” stopped providing technical support to contractors and refused contracts.
Croc filed its first bankruptcy claim in June 2022. In August 2023, Oracle filed for bankruptcy, prompting bankruptcy proceedings to be initiated.
The creditors of the structure also include Marvel Distribution (425.2 million rubles), Alfa-Bank (99.4 million rubles), Force Development Center (440 million rubles), Megafon (44 million rubles), Sberbank (77.2 million rubles), as well as Jet Infosystems (20 million rubles).
The manager’s review also states that some IT companies that left the Russian market managed to minimize the negative consequences. Microsoft restored technical support, IBM offered a discount for services actually provided, NEC, HPE, MicroFocus and Juniper offered compensation and returned advances.
However, Oracle does not cite any external circumstances that could explain the economic restrictions.
“In contrast, Oracle directly explains its actions to end its activities as politically motivated,” the analysis found.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
