LIPETSK FORGING PLANT FILED FOR VOLUNTARY BANKRUPTCY

The potential bankrupt is positioning itself as a company with a seventy-year history, as it is based on the procurement production of one of the largest machine-building production associations - Lipetsk Tractor Plant.

The company offers for sale forged alloy billets for the machine-building and automotive industries, as well as for the oil and gas, mining and chemical industries.

It should be noted that the filed bankruptcy petition is not the first in the history of the plant. At the end of 2018, the tax service made an attempt to recognize the insolvency of LFP, but it was unsuccessful.

In the process of considering the application, the amount of the debt was reduced from 6.1 million rubles to 134 thousand rubles, which was the reason for the court's refusal to introduce the observation procedure.

This time, LFP itself intends to initiate bankruptcy, probably for good reasons.

So far, no procedural decision has been made by the court, and it is premature to talk about the prospects of the case, but this week we can expect the first court ruling.