26.02.2008, 17:48
Moscow Arbitrage Court to consider setting up of commission in Volgotanker bankruptcy on March 4 On March 4, 2008, Moscow Arbitrage Court will consider the issue on setting up of a commission in Volgotanker bankruptcy, Aleksandr Volzhanin, acting head of the company, reports according to Gudik.Ru referring to Interfax. “The first meeting of creditors held on January 22 and 23 decided to apply to Arbitrage Court in order to appoint Aleksandr Volzhanin a bankruptcy commissioner. The hearing is scheduled for March 4,” he said. As it was reported earlier, on August 8, 2007 Moscow Arbitrage Court instituted a supervision of JSC Volzhski Oil Shipping Company Volgotanker. The Court approved the claims of Federal Tax Service against Volgotanker to the amount of RUR 3 billion 33 million including RUR 2 billion 12 million of tax debt. The Ministry of Transport initiated the bankruptcy procedure in spring 2007. From late 2005, Volgotanker activities were almost paralyzed due to arrest of vessels caused by tax claims against the company (RUR 4 billion). Volgotanker OJSC is one of Europe’s largest river shipping company specializing in transportation of oil cargo. It is part of Volgotanker Group comprising 11 Russian shipping, shipbuilding, ship repair and service companies. The fleet of Volgotanker OJSC numbers 353 vessels with a total deadweight of 1.25 million tonnes. The company’s shareholders are state (20%), off-shore companies Blue Range Investment Incorporation (17,93 %), Copeland Investment Ventures Ltd (14,41 %), Rolina Ventures Ltd (14,46%), Inversiones Kayzen Ltd (10,53 %), Paramount Holding Venture Incorporation (19,07%).
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