Sergey Bakeshin ha provided his comments to Delovoy Peterburg about the insolvency of Baltiiskya Solodovennaya Kompaniya

Sergei Bakeshin - Counsel

In July Promsvyazbank, which is under sanctions from the Central Bank, announced its intention to petition for the insolvency of Baltiiskya Solodovennaya Kompaniya (BSK); however, the company pre-empted the bank and petitioned for its own winding-up, on the basis of which insolvency will proceed on a simplified procedure.

According to Senior Associate at Maxima Legal, Sergey Bakeshin, the interest of the bank are motivated by a desire to recover its money that had been invested by the bank’s previous owners. “I am not certain, but I suspect, that BSK is affiliated with the previous owners of Promsvyazbank. Whilst the initiative is with BSK, but insolvency is a long process, and the situation can change”, explained Sergey to Delovoy Peterburg.

To read the article in full, please see the Delovoy Peterburg website.