Amtel Vredestein filed for bankruptcy

ERJ staff report (DS)

Moscow – OJSC Amtel-Vredestein (“Company”) has said it has officially filed for bankruptcy. The company said that on 03 June 2009 the Company has filed to the Moscow Arbitration Court a petition in bankruptcy and requested to grant OJSC Amtel-Vredestein a monitoring period in line with the Article 62 of the Federal law on insolvency.

The company said, “Given the deteriorating position of the Company and increasing number of creditors’ claims to repay debt or foreclose on the Company’s mortgaged assets, this action…

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