Russia Bankruptcy Factory Auto - Arhive

The court began consideration of the bankruptcy of Nizhny Novgorod “Factory Auto Russia Bankruptcy Factory Auto

Russia Bankruptcy Factory Auto

MOSCOW – The application of the POLYPLASTIC Research and Production Enterprise to declare Zavod Avtokomponent LLC bankrupt is accepted for consideration, the press service of the Scientific-Production Enterprise reported.

Earlier it was reported that on May 21, the Arbitration Court of Nizhny Novgorod accepted a claim for the introduction of bankruptcy proceedings against OOO TZK Avtokomponent.  The guarantee of the fulfillment of obligations under the supply agreement between NPP POLYPLASTIK and LLC TZK Avtokomponent was LLC Plant Avtokomponent. Russia Bankruptcy Factory Auto

Due to the fact that the obligations to pay for the goods were not met either by the main debtor (OOO TZK Avtokomponent) or by the guarantor (OOO Zavod Avtokomponent) NPP POLYPLASTIK also applied to the court for insolvency (bankruptcy) LLC Plant Automotive Component. ”

The court hearing to verify the validity of the application is scheduled for July 1.

In September 2017, NPP POLYPLASTIC completely stopped shipments to its largest consumer, OOO TZK Avtokomponent.  The company reported that at such an extreme measure it was forced to go long overdue debts of the plant “Avtokomponent”, which at that time amounted to about 90 million rubles.Russia Bankruptcy Factory Auto

The company notes that attempts to settle the issue of debt settlement through negotiations were not successful, and the payment agreements reached earlier were not fulfilled.  At the moment, the amount of outstanding debt is more than 100 million rubles.Russia Bankruptcy Factory Auto

NPP “POLYPLASTIC” specializes in the production of thermoplastic composite materials and polymeric raw materials for processing by the method of injection molding, injection molding and extrusion.  The company is the largest supplier of composite materials and polymer raw materials in Moscow and other cities of Russia, annually increasing its production volume by 10-12%.  It has more than 35% of the Russian market of composite polymer materials for engineering and technical purposes.

Author:   Anna Larionova

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