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Bankrupt Firms Listed
09 July 1994
MOSCOW -- Russia has drawn up a list of more than 60 enterprises which must face bankruptcy proceedings -- the first sign that laws passed last year are beginning to bite. Sergei Belyayev, general director of the Federal Bankruptcy Agency, told trade unions this week the state had listed the firms whose fate would be decided in court hearings in the near future, an agency spokesman said Friday. But no final decision has been taken on when the enterprises could face bankruptcy proceedings in the Russian Federation's Arbitration Court or on how long they might last. Companies could be auctioned off and Russian or foreign investors may buy into the companies.
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