A state-owned Malaysian investment fund is in talks with the Russian Investment Agency (RIA) about the possibility of…
Topic: bankruptcies & liquidations
Bankruptcies and liquidations in Russia, Azerbaijan, Kazakhstan and Central Asia
Sberbank among first to use new Russian bankruptcy law
Russian bankruptcy law: Russia’s courts are bracing themselves for a flood of bankruptcy case being bought by…
Aeroflot pulls out of Transaero deal
Russia’ state airline Aeroflot has decided not to go ahead with the acquisition of debt-laden Transaero after shareholders…
Admiralteisky becomes 140th victim of Russian bank purge
Russian bank purge: The Central Bank of Russia (CBR) last week revoked the licence of the Admiralteisky…
Aeroflot buys Transaero stake for a rouble
Aeroflot buys Transaero: Aeroflot is to buy a 75% stake in struggling private airline Transaero for one rouble,…
Decline in Russian tourism sends Santa Claus Village into bankruptcy
The Santa Claus Village in northern Finnish town of Rovaniemi, has filed for bankruptcy after failing…
Russian bankruptcies reach 2009 levels
Russian bankruptcies: The number of Russian companies filing for bankruptcy has grown from a trickle in…
Ak Bars Aero hits turbulence and suspends flights
Ak Bars Aero: The devaluation of the rouble and a decline in passenger traffic has forced…
UTair bailout being considered by Russian government
UTair bailout: The Russian government is considering extending financial aid to Siberia’s troubled UTair airline, Deputy…
UTair on verge of bankruptcy as creditors circle
UTair on verge of bankruptcy: Western Siberia’s UTair was teetering on the brink of insolvency today after…
UTair misses bond payments as crisis deepens
UTAir misses bond payments: The crisis at Siberia’s UTAir airline deepened last week after it emerged…
Petropavlovsk rescue package on the cards
Petropavlovsk, the Siberian-based Russian gold mining operation that has seen its market value drop from $3bn to…
Mechel shares tumble as bankruptcy looms
Mechel shares: Shares in the troubled Mechel mining company fell almost 40% yesterday as fears grew that it would be…
Southern Cross becomes latest tour operator to go bust
Southern Cross today became the second Russian tour operator to go out of business today when it announced suspension of…
Aviacharter becomes latest tour operator to go bust
Aviacharter: Far Eastern Tour Operator Aviacharter-DV has announced that it is suspending activities. It says that it is unable to meet…
Alfa Tour goes out of business
Alfa Tour this week became the latest Russian tour company to suspend operations. The Novgorod-based operator…
Veter tour operator suspends activities
Russia’s Veter has suspended operations, making it the eighth tour operator to go out of business this…
Kyrgyzgaz goes into liquidation
Kyrgyzgaz, formerly Kyrgyzstan’s state-run gas distribution company, officially announced its liquidation this week. The development is a…
Nordic Star tour operator suspends operations
Nordic Star: The St Petersburg tour operator Nordic Star yesterday announced that it was suspending operations. The…
Audits for Russian tour operators on the cards
Audits for Russian tour operators: Following the collapse of four Russian tour operators in the space of…
Neva travel agency suspends operations
Neva travel agency, one Russia’s oldest tour operators, suspended operations this week leaving thousands of Russians stranded abroad.…
SMP thrown Mosoblbank lifeline
SMP: Russia’s Central Bank threw the sanctions-hit SMP bank a lifeline yesterday, saying that it would provide it with…
Russian Land Bank declared bankrupt
Russian Land Bank (RZB) has been declared bankrupt buy the Moscow Arbitration Court after an application…
Sberbank buys stake in Mostovik
Sberbank has bought a 20% share in the Omsk-based civil engineering company Mostovik after it filed…