The Moscow arbitration court began bankruptcy of Russian «daughter» of Vertu

© RIA Novosti / Natalia to Seliverstova in fotobanka company in Moscow. Archival photoThe Moscow arbitration court began bankruptcy of Russian «daughter» of Vertu© RIA Novosti / Natalia to Seliverstova the image Bank

The Moscow arbitration court imposed the initial procedure of bankruptcy – supervision – in the Moscow company «Werth rush», a subsidiary of the British manufacturer of smartphone luxury Vertu, the correspondent of RIA Novosti news from the courtroom.

With the Declaration of bankruptcy, the court addressed itself OOO «Werth rush». A company spokesman on Friday asked the court to declare her bankrupt of the absent debtor, and to open bankruptcy proceedings. He explained that the Russian «daughter» Vertu traded products of the British company, which is currently bankrupt. «May, «Werth rush» gets the item and may not engage in economic activity», — said the representative of the debtor.

He also said that the powers of the CEO ended November 1, the new head of the founders is not appointed, the shops are closed, there are only trade balances. According to the lawyer, the company’s debt to creditors is about this amounted to 272.6 million, the carrying value of the property – about 93,8 million, but its market value — 22.6 million rubles. In addition, the current account has less than 5 million rubles, said the representative of the company.

The court refused to recognize the debtor bankrupt and determined to enter the observation procedure. Interim Manager approved Farid Abdullayev, his report on the results of the observations of the court appointed for may 17.

According to the register, a major participant in OOO «Werth rush» with a share of 99% is British Vertu Corporation Limited, another UK Vertu Operations Limited (1%). The main business activity is retail trade of goods in specialized stores. According to information in the media, in Russia at Vertu had seven stores, including five in Moscow.

In July, the Financial Times reported that the British company has taken the decision on liquidation due to financial problems. The newspaper noted that problems Vertu started after buying the business in March, businessman Hakan Uzan. He found a deficit of 128 million pounds (165,9 million), and attempts to resolve problems have failed.

Vertu was founded in 1998. Originally, it was a division of the Finnish Nokia, but in 2012 it was sold to the Swedish company EQT. In 2015, Vertu has acquired the Chinese company Godin Holdings.