Rusnano announced signs of bankruptcy risk
The Rusnano Group announced the emergence of signs of bankruptcy risk, as stated in a report published on website Center for Corporate Information Disclosure.
They indicated that the amount of accounts payable due to be repaid by the end of 2023 does not allow the company to fulfill its obligations only at its own expense.
They also warned that Rusnano meets the criteria of insolvency and insufficient property under the Federal Bankruptcy Law.
The document states that if the company’s shareholders do not make decisions to normalize financial statements and do not provide liquidity to fulfill obligations to creditors, there is a high probability of signs of bankruptcy.
The amount of Rusnano’s net debt for the first half of 2023 exceeds 95 billion rubles, the volume of creditors’ claims “significantly exceeds the value of the assets.”
In October last year, it became known that the government was discussing the dissolution of Rusnano. The problems of the development institution worsened after the introduction of sanctions against Russia. According to one of the officials, the government doubts that supporting Rusnano from the budget will be advisable, and therefore proposes to liquidate the company.
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