Bankruptcy proceeding at Moscow major department store extended
MOSCOW, January 10 - RAPSI. A court extended for six months bankruptcy proceedings at "Moscow" Department Store, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Tuesday.
The Moscow Commercial Court postponed in December until February 2 the bankruptcy petition filed by Latvian-based Parex banka against "Moscow" Department Store.
Parex banka is the major creditor of "Moscow" Department Store.
The case was adjourned at the request of Parex banka since other commercial courts are now hearing the bank's petition challenging creditors' meetings of the department store.
"Moscow" Department Store owns one of the oldest department stores in Moscow of 22,970 square meters in size.