2022-12-23T11:07:00+02:00 Politics 2024-09-15T06:05:54+03:00

Ukrainian news

Court starts Azovstal bankruptcy proceedings

Court starts Azovstal bankruptcy proceedings

On December 21, the Commercial Court of the Zaporizhzhia Region started proceedings on the bankruptcy of the metallurgical plant Azovstal (Mariupol, Donetsk Region).

This follows from a statement by Azovstal, the Ukrainian News agency reports.

The court decided to open proceedings on the bankruptcy of the combine at the request of the Zaporizhvohnetryv plant (Zaporizhzhia), which is also part of the Metinvest group.

The reason for opening proceedings in the bankruptcy case of the issuer is the seizure and destruction of the single property complex Azovstal in occupied Mariupol and, as a result, insolvency and the impossibility of fulfilling monetary obligations to creditors.

As the Ukrainian News agency earlier reported, on December 19, the Economic Court of the Zaporizhzhia Region started proceedings on the bankruptcy of the Illich Iron & Steel Works (Mariupol, Donetsk region).

16 enterprises of the Metinvest group filed a lawsuit with the European Court of Human Rights (ECtHR) against Russia regarding compensation for the damage caused to the property and property of the group in Mariupol (Donetsk Region) and in other territories of Ukraine from February 24, 2022.

In particular, the lawsuits were filed by the Azovstal metallurgical plant and the Illich Iron & Steel Works.

The main shareholders of the Metinvest group are SCM (71.24%) and the Smart-Holding group (23.76%), which participate in the management of Metinvest on a partnership basis.

100% of SCM shares belong to businessman Rinat Akhmetov.