The Arbitration Court of Moscow has initiated bankruptcy proceedings against the assets of the German concern Volkswagen AG located in Russia. The decision was made based on a claim by AO Kameya, which is demanding 16.9 billion rubles, 40,000 euros, and 119,000 rubles in legal costs from the automaker. The debt was confirmed by the Nizhny Novgorod Region court in July 2024 and remains unpaid. The bankruptcy proceedings against Volkswagen's Russian assets will last six months.
AO Kameya acquired the right to claim against Volkswagen from AO Avtomobilny Zavod NAZ for 120 million rubles. The claims are related to losses from the termination of the agreement on contract assembly of Skoda and Volkswagen cars at the GAZ facilities. Earlier, the Nizhny Novgorod Region court seized Volkswagen's Russian assets, including shares in the Kaluga plant "Volkswagen Group Rus". In April, the seizure was partially lifted, and in May, Volkswagen completed the sale of assets to Art-Finance.
Volkswagen's lawyers tried to challenge the transfer of debt to Kameya, but the court rejected their arguments. The financial difficulties of the concern are confirmed by a 36.3% drop in net profit in the second quarter of 2025.
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