Support The Moscow Times!

Alfa Pushes Bankruptcy

Alfa Bank is seeking bankruptcy for a pulp and paper mill 25 percent owned by billionaire Oleg Deripaska, rejecting a proposal by the plant’s management to turn the business around.

Creditors controlling 52 percent of the borrowings of the plant in Baikalsk, voted at a meeting Tuesday to wind up operations and collect the debt, Alfa said in an e-mailed statement. Oksana Gorlova, a spokeswoman for Deripaska’s pulp business, was not immediately available for comment. 


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.