RusBankrot
We know everything about bankruptcy
22/10/2024
Tuesday
THIS DAY IN HISTORY:
22 October 
1970 Joseph Brodsky received the Nobel Prize in Literature.
1970 The Pope overturned the verdict of 1633, condemning Galileo.
1970 Bankers' Panic or Knickerbocker Crisis.
22 October
1970 Joseph Brodsky received the Nobel Prize in Literature.
1970 The Pope overturned the verdict of 1633, condemning Galileo.
1970 Bankers' Panic or Knickerbocker Crisis.
The Russian "daughter" of General Motors has become bankrupt
![The Russian "daughter" of General Motors has become bankrupt](/upload/iblock/598/file_972.jpg "The Russian "daughter" of General Motors has become bankrupt")
On September 6, 2024, the Moscow Arbitration Court (AS GM) recognized the insolvency of General Motors Auto (GM Auto LLC). The company owes creditors 88 million rubles. The initiator of the bankruptcy about a year ago was the Avtoliga-Zapad company (case no. A40-165153/2023). The bankruptcy proceedings are scheduled for the next six months.
The company was established in Russia in 2006. Its beneficiary is GM Mobility Europe GmbH, a company registered in Germany. Until 2016, the organization owned an enterprise in St. Petersburg, producing Chevrolet, Opel and Cadillac cars on it. Then the plant was closed, and GM Auto switched to importing cars and spare parts of these brands from abroad.
In 2021, GM's subsidiary in Russia received 3.4 billion rubles in profit with revenue of 19.4 billion. However, in the spring of 2022, the management of the parent company decided to stop supplying vehicles to Russia. Transactions with domestic dealers were terminated.
In the middle of last year, a regional dealer, the structure of the Avtoliga group of companies from Nizhny Novgorod, filed a bankruptcy lawsuit against the organization in AC GM. The reason for the appeal was a debt of 1.2 million. It arose due to the replacement of the engine in the Cadillac Escalade car, which the company produced under warranty for a new car. However, the spare part had to be purchased from other suppliers, since GM Auto had already stopped deliveries by that time.
In the spring of 2024, the organization introduced a monitoring procedure, to which the metropolitan prosecutor's office and the inspectorate of the Federal Tax Service sent their objections. They considered this debt to be a kind of lost profit. But the court sided with the applicant, taking the dealer's warranty costs as damages.
In August 2024, the company's creditors, of whom there were more than a dozen by that time, recognized the need to apply to the AC GM in order for the company to be granted bankruptcy status. Pavel Semenov was approved as the bankruptcy trustee.
The company was established in Russia in 2006. Its beneficiary is GM Mobility Europe GmbH, a company registered in Germany. Until 2016, the organization owned an enterprise in St. Petersburg, producing Chevrolet, Opel and Cadillac cars on it. Then the plant was closed, and GM Auto switched to importing cars and spare parts of these brands from abroad.
In 2021, GM's subsidiary in Russia received 3.4 billion rubles in profit with revenue of 19.4 billion. However, in the spring of 2022, the management of the parent company decided to stop supplying vehicles to Russia. Transactions with domestic dealers were terminated.
In the middle of last year, a regional dealer, the structure of the Avtoliga group of companies from Nizhny Novgorod, filed a bankruptcy lawsuit against the organization in AC GM. The reason for the appeal was a debt of 1.2 million. It arose due to the replacement of the engine in the Cadillac Escalade car, which the company produced under warranty for a new car. However, the spare part had to be purchased from other suppliers, since GM Auto had already stopped deliveries by that time.
In the spring of 2024, the organization introduced a monitoring procedure, to which the metropolitan prosecutor's office and the inspectorate of the Federal Tax Service sent their objections. They considered this debt to be a kind of lost profit. But the court sided with the applicant, taking the dealer's warranty costs as damages.
In August 2024, the company's creditors, of whom there were more than a dozen by that time, recognized the need to apply to the AC GM in order for the company to be granted bankruptcy status. Pavel Semenov was approved as the bankruptcy trustee.
12.09.2024
