RusBankrot
We know everything about bankruptcy
21/07/2026
Tuesday
THIS DAY IN HISTORY:
21 July 
1970 The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme C The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme Court of the Russian Federation.
1970 The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme Court of the Russian Federation.
1970 Mikhail Romanov was crowned in Moscow, having become the first Tsar in the Romanov dynasty.
1970 Mikhail Romanov was crowned in Moscow, having become the first Tsar in the Romanov dynasty.
1970 Pope Paul III established the Roman Inquisition to fight Protestantism.
1970 Pope Paul III established the Roman Inquisition to fight Protestantism.
21 July
1970 The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme C The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme Court of the Russian Federation.
1970 The men of Ingushetia were allowed to have four wives - a year later the law was repealed by the Supreme Court of the Russian Federation.
1970 Mikhail Romanov was crowned in Moscow, having become the first Tsar in the Romanov dynasty.
1970 Mikhail Romanov was crowned in Moscow, having become the first Tsar in the Romanov dynasty.
1970 Pope Paul III established the Roman Inquisition to fight Protestantism.
1970 Pope Paul III established the Roman Inquisition to fight Protestantism.
THE COURT STAYED THE BANKRUPTCY OF VOLKSWAGEN'S RUSSIAN ACTIVITIES
The District Court (the Moscow District Court of Arbitration) confirmed that Kameya's claims for 16.9 billion rubles were legally included in the register of creditors of the Russian division of Volkswagen. At the same time, the cassation aimed at overturning the insolvency procedure approved for the German automaker's property located in the Russian Federation was rejected.
Initially, the Gorky Automobile Plant was the plaintiff in the debt dispute. A couple of years ago, the Russian company won a court case against Volkswagen for the specified amount, as well as €40,000 for the premature termination of the contract for the assembly of cars in Nizhny Novgorod.
Subsequently, the claim was transferred to the Moscow-based company Kameya, which purchased it for €120 million. This move led to the initiation of the insolvency case against the company, and the Moscow Arbitration Court initiated bankruptcy proceedings against the Russian assets of the debtor.
The materials of the case show that the concern has been actively present on the domestic market for a long time. The investment agreement with the Ministry of Economic Development of the Russian Federation has been in effect since 2006. During this time, the company has established the production of cars in the country, owned factories in the Kaluga and Nizhny Novgorod regions, and managed the business through a network of local subsidiaries.
As of 2024, Volkswagen controlled eight Russian legal entities, including the MAN, Porsche, Scania, and Volkswagen Bank Rus divisions. By 2000, the company's market share in Russia was 6.3%.
After the events of 2022, the company ceased its operations in the country and unilaterally terminated its obligations. Although the Gorky Automobile Plant initially sought to recover 28.4 billion rubles due to the breach of the contract for the supply of diesel engines and the option to repurchase the facilities, the court only partially granted the claim.
In their cassation appeal, Volkswagen's representatives insisted on the cancellation of the court decisions, citing procedural violations. However, the court pointed out that the existence of the debt was confirmed by the court decisions that had already entered into force, and there was no evidence of its payment. On the contrary, the debtor had taken measures to distribute and withdraw its assets in an attempt to avoid making payments. The court recognized that the bankruptcy in Russian jurisdiction was justified, as the company's main business processes were tied to Russia. It was also noted that the creditor did not have a realistic opportunity to initiate a similar procedure in Germany. As an additional argument, the Constitutional Court of the Russian Federation has stated that legal protection is not provided to legal entities that have joined anti-Russian sanctions imposed outside of international mechanisms.
In the past, the Supreme Court of the Russian Federation has already issued a judicial act against Volkswagen, which refused to review the decision to recover a large sum. In addition, Kameya JSC has ensured that the debt has been indexed. Now, the debt has increased by an additional 1.5 billion. Creditors had to challenge the bailiffs' inaction in the seizure of property, as the debtor, according to the documents, explicitly stated his unwillingness to fulfill his financial obligations.
Photo: volkswagen-newsroom.com/
Initially, the Gorky Automobile Plant was the plaintiff in the debt dispute. A couple of years ago, the Russian company won a court case against Volkswagen for the specified amount, as well as €40,000 for the premature termination of the contract for the assembly of cars in Nizhny Novgorod.
Subsequently, the claim was transferred to the Moscow-based company Kameya, which purchased it for €120 million. This move led to the initiation of the insolvency case against the company, and the Moscow Arbitration Court initiated bankruptcy proceedings against the Russian assets of the debtor.
The materials of the case show that the concern has been actively present on the domestic market for a long time. The investment agreement with the Ministry of Economic Development of the Russian Federation has been in effect since 2006. During this time, the company has established the production of cars in the country, owned factories in the Kaluga and Nizhny Novgorod regions, and managed the business through a network of local subsidiaries.
As of 2024, Volkswagen controlled eight Russian legal entities, including the MAN, Porsche, Scania, and Volkswagen Bank Rus divisions. By 2000, the company's market share in Russia was 6.3%.
After the events of 2022, the company ceased its operations in the country and unilaterally terminated its obligations. Although the Gorky Automobile Plant initially sought to recover 28.4 billion rubles due to the breach of the contract for the supply of diesel engines and the option to repurchase the facilities, the court only partially granted the claim.
In their cassation appeal, Volkswagen's representatives insisted on the cancellation of the court decisions, citing procedural violations. However, the court pointed out that the existence of the debt was confirmed by the court decisions that had already entered into force, and there was no evidence of its payment. On the contrary, the debtor had taken measures to distribute and withdraw its assets in an attempt to avoid making payments. The court recognized that the bankruptcy in Russian jurisdiction was justified, as the company's main business processes were tied to Russia. It was also noted that the creditor did not have a realistic opportunity to initiate a similar procedure in Germany. As an additional argument, the Constitutional Court of the Russian Federation has stated that legal protection is not provided to legal entities that have joined anti-Russian sanctions imposed outside of international mechanisms.
In the past, the Supreme Court of the Russian Federation has already issued a judicial act against Volkswagen, which refused to review the decision to recover a large sum. In addition, Kameya JSC has ensured that the debt has been indexed. Now, the debt has increased by an additional 1.5 billion. Creditors had to challenge the bailiffs' inaction in the seizure of property, as the debtor, according to the documents, explicitly stated his unwillingness to fulfill his financial obligations.
Photo: volkswagen-newsroom.com/
03.07.2026
