In his interview with Kommersant, Andrey Kozlov, RussianLegal’s Managing Partner, expressed his opinion on the bankruptcy proceedings against Petrarko PJSC, an oil and gas company.
Its liquidator lodged with an Udmurtian commercial court a bankruptcy petition against Petrarko PJSC. However, Bank Trust managed to prove the petition was unsound due to the insufficiency of the company’s assets to meet the creditors’ claims.
Mr Kozlov believes the court’s refusal to declare the debtor company bankrupt was predictable, given the facts of the case, but the liquidator still has a small chance to make the court to revise its decision for the liquidator’s benefit, provided that the liquidator succeeds in challenging the financial appraisal of the company.
For more details, please read the related article in Kommersant here.