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Sanctions drove Russian delivery service Buyk to bankruptcy in US

The company, founded by Russians Vyacheslav Bocharov and Rodion Shishkov in the United States, has filed for bankruptcy and liquidation. It was launched by the founders of the Samokat service in the fall of 2021. And although the owners of the food delivery service themselves did not fall under personal sanctions, it became impossible to develop the business. After the start of the military operation of the Russian Federation on the territory of Ukraine, the owners of the company began to have problems with funding from Russia. Due to this, the company ...

BELAVIA AIRLINES MIGHT FACE BANKRUPTCY DUE TO THE EU SANCTIONS

The RyanAir airliner, which made an emergency landing in Minsk on May 23, may become the reason for the bankruptcy of the national air carrier of the Republic of Belarus. A significant number of experts come to this conclusion, commenting on the sanctions of the authorities of European countries. The EU summit that took place may be crucial for the national airline. The ban of Belavia on crossing the airspace of the EU countries threatens to actually cut off the company not only from flights ...

THE FINNISH ARENA OWNED BY RUSSIANS MAY BE BANKRUPT DUE TO SANCTIONS

The company managing the Helsinki Hall arena in the Finnish capital may be declared bankrupt. The organization turned out to be insolvent due to sanctions, since it cannot pay the payments made to it by the city authorities and public utilities. The sports and concert venue began its work in the spring of 1997. According to TASS, it is the largest indoor arena in the country. During the hockey ...

MEGAFON RISKS BECOMING BANKRUPT DUE TO SANCTIONS AGAINST ALISHER USMANOV

The founder of the USM holding, Alisher Usmanov, whose main assets are Megafon and Metalloinvest, has been trying to challenge the personal sanctions imposed on him in the European Court since May. In a statement to the EU, he points to the possible bankruptcy of the main companies of the holding, including Udokan Copper. Financial losses, according to Usmanov, can turn out to be "irreparable damage" and will probably affect the lives of hundreds of thousands of employees and their families....

Croatia’s largest shipyard goes bankrupt due to sanctions against VTB

Brodosplit Shipyard has begun preliminary bankruptcy proceedings. The firm applied to the Economic Court of Split on 27 April. As noted in a statement of management, ... ... company's management expected €120 million from a Russian credit institution. In April 2022, the situation was complicated by the EU sanctions against VTB, which were joined by the Croatian authorities. By this time, two ships were already being built on the ...

Amsterdam trade bank went bankrupt due to sanctions

A Dutch bank, co-owned by the businessmen Mikhail Fridman and Petr Aven, went bankrupt. The reason for the bankruptcy was sanctions against the entrepreneurs announced by the United States and Great Britain in connection with the start of the military special operation of the Russian Federation on the territory of Ukraine. The bank was not included in the "black list" ...

Nord Stream II preparing for bankruptcy

The operator of the Nord Stream 2 project is about to declare bankruptcy in a few days. The company was in a state of collapse against the backdrop of Western sanctions and a Russian special operation that unfolded on the territory of Ukraine. It is reported that the application will be submitted to the Swiss court of Zug, which is competent to consider this issue. An application to the document should be ...

Six-month bankruptcy moratorium will be introduced in Russia

... According to the expert, this step will help those companies that "plan to continue their activities in Russia, wait out the crisis and pay debts to creditors later." It is quite logical that legal entities will face financial problems due to sanctions. A temporary ban on creditors from filing for bankruptcy will not force firms into bankruptcy and will give them time to get back on their feet. “According to a rough estimate,” Yevgeny Gorbachevsky noted, “the moratorium will reduce the number of bankruptcies of legal entities by 1.5-2 times.” ...

Will the Western corporations that have left Russia be driven to bankruptcy?

Against the background of the mass exodus of foreign companies from Russia, the country's authorities continue to announce measures that can be taken. One of such measures discussed in a number of media may be the bankruptcy of companies within 3 to 6 months. Finance Minister Anton Siluanov called such a bankruptcy mechanism accelerated. In an interview with a Russian state television channel, the finance minister said that the country is not interested in foreign ...

SMALL AND MEDIUM BUSINESSES IN GERMANY ON THE VERGE OF BANKRUPTCY DUE TO FUEL PRICES

... the work of companies in Germany. However, the problem does not only concern gas stations and the transport sector. According to local experts, existing taxes on electricity and the protracted reform of the public transport fare system could lead to bankruptcy of significant number of entrepreneurs. According to the NEOPresse media, gasoline prices have already exceeded € 2 per liter at gas stations in Germany. The cost of gas also doubled. This raises concerns among businessmen who fear corporate ...

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