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Russian court dismisses appeals of two Crimean energy companies

09:59 09/08/2018

MOSCOW, August 9 (RAPSI) – The Twenty First Commercial Court of Appeals has dismissed appeals filed by two Crimean energy producers Alpha Solar and Beta Solar owned by the Cypriot Ournia Commercial Ltd, against a court ruling declaring the companies bankrupt, the court documents read.

On June 8, the Commercial Court of Crimean Republic granted a motion of the VTB Capital PLC, finding Alpha Solar and Beta Solar bankrupt.

Last November-December, the Crimean Commercial Court initiated a monitoring procedure against Alpha Solar, Beta Solar, Gamma Solar and Zeta Solar companies on the request of VTB Capital Plc, London’s subsidiary of VTB Group.

In late 2016, the court granted an application filed by Russia’s Sberbank and recognized another four Simferopol companies, Delta Solar, Omao Solar, Osprey Solar and Oul Solar owned by the Austrian Black Sea Renewable Energies GmbH, as bankrupt.

Earlier, the Crimean Commercial Court returned bankruptcy claims against 12 Crimean energy companies owned by Black Sea Renewable Energies GmbH to the Fund for the Protection of Depositors’ Rights. The court held that the applicant had not furnished proofs of the fund representative’s powers to sign the application on behalf of the creditor bank. According to the court, the claimant is Ukraine’s state bank Oschadbank; however, the bankruptcy petition was signed by the Fund for the Protection of Depositors’ Rights.

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Russian court dismisses appeals of two Crimean energy companies

09:59 09/08/2018 The Twenty First Commercial Court of Appeals has dismissed appeals filed by two Crimean energy producers Alpha Solar and Beta Solar owned by the Cypriot Ournia Commercial Ltd, against a court ruling declaring the companies bankrupt.
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