NEWS

On July 23, 2019, by a decision of the Arbitration Court of the Republic of Tatarstan, OAO KZSK (Kazan Synthetic Rubber Plant) was declared bankrupt and bankruptcy proceedings were initiated against the company. The Ministry of Industry and Trade of Tatarstan, jointly with the Ministry of Industry and Trade of the Russian Federation and enterprises interested in the supply of products by KZSK, are working on keeping its facilities in operation under bankruptcy administration, including that through the possible lend lease of its asset portfolio.

By virtue of the provisions of the Federal Law No. 127-FZ of October 26, 2002 “On Insolvency (Bankruptcy)”, the decision to maintain (continue) the production activities of the borrower is made by the general meeting of creditors.

Today, on August 9, a meeting of creditors took place in the KZSK plant management building (1 Lebedev Street). The issue of permitting production activities during the bankruptcy proceedings period was postponed until August 30, 2019 in order to work out a regulatory and legal basis for leasing out the KZSK production facilities to an interested investor.

The Ministry of Industry and Trade of Tatarstan will continue to provide assistance in ensuring the work of OAO KZSK with the involvement of all concerned parties.