Court considers ZhBI bankruptcy petitions

The Volgograd region's Arbitration Court is hearing claims from plaintiffs including Sberbank Head Office in the Volgograd region (South), which filed a petition for settling a RUB 2.20billion (€53.73million) debt.

According to experts, the bankruptcy is initiated so that different players of the regional construction market may get ZhBI-1 assets. ZhBI-1 management has announced plans to keep the company.

According to reports, the Voronezh Court of Arbitration in Russia has introduced a monitoring procedure at Pavlovskgranit due to the claim of Atlantic, which acquired the company's debt from Sberbank Capital.
The reports say the debt is €101.49 million and the court will appoint an interim trustee on 11 May, 2012.