The Moscow Arbitration Court has introduced bankruptcy proceedings against Volkswagen property

On September 12, the Moscow Arbitration Court decided to open a bankruptcy procedure, which was initiated by the metropolitan Joint Stock Company (JSC) Kameya in relation to the Russian property of the German automobile concern Volkswagen.

"To introduce a bankruptcy procedure in relation to Volkswagen Aktiengesellschaft <...> in relation to the estate in Russia," RIA Novosti quoted Judge Valery Marasanov as saying.

According to the verdict, the claims of Kameya JSC, which amounted to more than 16.9 billion rubles, were included in the register of creditors of Volkswagen Aktiengesellschaft. The Russian plaintiff acquired the corresponding right from Nizhny Novgorod Automobile Plant NAZ LLC.

Volkswagen's debt to the initiators of this procedure was documented by arbitration courts in three instances located in the Volga-Vyatka District of the Russian Federation.

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Employees will be offered an alternative workload to maintain their salary levels.

On July 11, the Handelsblatt newspaper learned about the closure of the Volkswagen plant in Nanjing, People's Republic of China (PRC), which will take place at the end of 2025. The publication clarified that this was the first case of a complete closure of an enterprise in China for this automaker.

All important news is on the Izvestia channel in the MAX messenger.