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Court to hear application for Incom-Lada bankruptcy administrators removal

13:21 29/08/2011

MOSCOW, August 29 - RAPSI, Dmitry Shchitov. The Moscow Commercial Court is set to hear on September 20 an application for the removal of Incom-Ladas bankruptcy administrator Olga Matveyeva from her position, a court official told the Russian Legal Information Agency (RAPSI).

The application was signed by the Bank of Moscow, MDM Bank, Alfa Bank, Troyka Dialog, the Rosbank Debt Center, and VTB Bank.

Income-Lada was a special purpose vehicle for the issuance of the following Incom-Avto bonds: second series securities (default; issue amount 1.4 billion rubles ($50 million)), third series (default; issue amount 2 billion rubles ($71.5 million)), Eurobonds (default; issue amount $ 37.5 million). It also issued additional Eurobonds in the amount of $40 million.

The Moscow Commercial Court declared Income-Lada bankrupt and ordered its bankruptcy administration on June 18, 2009.

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Court to hear application for Incom-Lada bankruptcy administrators removal

13:21 29/08/2011 The Moscow Commercial Court is set to hear on September 20 an application for the removal of Incom-Ladas bankruptcy administrator Olga Matveyeva from her position
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