Siberia, Russia-based trout producer taken to court over outstanding liabilities

Khakassky fish combine which is located in Republic of Khakassia in the south part of Central Siberia has turned out to be on the verge of bankruptcy after its creditor Izerbel Ltd has initiated a court action, reports www.fishnet-russia.com (www.fishnet.ru) with reference to REGNUM.

OAO Khakassky Rybokombinat (plc) has been engaged mostly in trout farming, freshwater fishery, fish processing and trade. The combine's total production output amounts to ca.500 tonnes. Today the company has a staff of 56 people.

The combine has liabilities of 7.432 million RUB to Izerbel and more than 4 million RUB to the state (outstanding taxes). Now the combine is under external admininstration and in the end of March it was expected to move into receivership. Further reports say that the combine's bankruptcy has been postponed to late April 2009. Actually, the court has partly satisfied a petition of the combine's leaders asking for a two month extension of the external control. The approved one-month delay is supposed to give time to finalize the list of creditors because not all the claims have been sent for the court's consideration as per late March 2009.

The combine's press-service says that the business may be completely liquidated and the debts will be paid off by the property.