Currency rates from 29/11/2024
$1 – 12865.05
UZS – 0.13%
€1 – 13550.76
UZS – 0.28%
₽1 – 116.73
UZS – -2.78%
Search
Technologies 22/04/2013 Court recognizes Uzdunrobita as bankrupt
Court recognizes Uzdunrobita as bankrupt
Tashkent, Uzbekistan (UzDaily.com) -- Tashkent Economic Court recognized FE LLC Uzdunrobita, a 100% subsidiary of Russia’s MTS in Uzbekistan, as bankrupt.

RIA Novosti reported quoting source close to company that Tashkent Economic Court today satisfied application of court to announce mobile operator as bankrupt and opened liquidation process with term of one year.

The source said that creditors of the operator will not be cable to satisfy their requests even in minimum volume as basic stations will not run without software, which copyright belongs to Uzdunrobita.

Uzdunrobita has filed a petition to declare bankruptcy in the Tashkent Economic Court in January 2013.

The application was submitted after it cannot fulfill its obligations in line with the decisions of Tashkent city court from 17 September 2012 and Appeal Board of Tashkent court from 8 November 2012. In line with court decisions, Uzdunrobita should pay fines and penalties for about US$600 million.

On 11 March 2013, Economic court of Tashkent refused request of creditors of Uzdunrobitaon announcement of the company as bankrupt and launch of liquidation process.

In July the wholly-owned subsidiary of MTS, Uzdunrobita, had its license withdrawn initially for 10 days and then permanently due to repeated and systematic major violations, with the way their cellular network was designed and noncompliance with the instructions of the controlling body.

Several employees of Uzdunrobita were fined and sentenced for correctional works for schemes, created for receiving illegal income. Assets of the company were handed over to the government, but the court abolished decision and said the operator should pay US$600 million of fines and penalties in eight months.

Stay up to date with the latest news
Subscribe to our telegram channel