THE COURT STOPPED THE PROCEEDINGS ON THE CLAIM OF YANDEX TO A&DD FOR 891 MILLION

THE COURT STOPPED THE PROCEEDINGS ON THE CLAIM OF YANDEX TO A&DD FOR 891 MILLION

THE COURT STOPPED THE PROCEEDINGS ON THE CLAIM OF YANDEX TO A&DD FOR 891 MILLION
The claim of the Russian company Yandex against the distributor of digital devices and accessories A&DD Company has been terminated. As follows from the file of arbitration cases, Yandex demanded about 891 million rubles.

Representatives of Yandex said that they had concluded a settlement agreement with A&DD, TASS reports.

During the consideration of the claim, the Russian company requested to take interim measures in the form of the seizure of A&DD's finances in the amount of over 890 million. However, the request was refused.

Yandex filed a lawsuit against the distributor of digital devices and accessories at the end of November. According to representatives of the Russian company, the reason was the non-payment of the debt under the contract for the supply of devices. As noted in the file, we are talking about the events of 2019.

A&DD Company has been operating in the household electrical goods market since 2008. The company positions itself as a leader in the field of official distribution of accessories and digital devices in the Russian market.


Photo: Wikipedia

14.02.2023