The court recognized the bankruptcy claim of Google LLC as justified and began the corresponding procedure

The Moscow Arbitration Court found justified the request of Google’s Russian subsidiary, Google LLC, to initiate bankruptcy proceedings and launched the initial stage in the company – supervision for a period of six months.

The court recognized the bankruptcy claim of Google LLC as justified and began the corresponding procedure

How write RIA Novosti, the meeting lasted only a few minutes: the company’s lawyers confirmed the bankruptcy claim, and judge Valery Marasanov almost immediately announced the operative part of the court ruling.

The company already in May announced its intention to go to court on the issue of bankruptcy, and in June it became known that the application had indeed been received by the department.

The reason for the need for such a step at Google LLC was explained by the fact that the company “foresees its own bankruptcy and the impossibility of fulfilling monetary obligations from March 22, 2022.”

The Russian subsidiary of Google estimated these obligations at 19 billion rubles, while active companies are estimated at 3.5 billion rubles. In addition, another 1.2 billion rubles were arrested in the accounts.

Among the creditors of Google LLC are both commercial enterprises and the tax service, and employees of the company. Because of the arrested accounts, the company is not able to pay them off.

At the same time, turnover fines are regularly imposed on Google and its affiliates in Russia for repeated failure to remove prohibited information from the resource. And if the first in December was 7.2 billion rubles, then the recent July was already 21 billion rubles.

This is about one tenth of the company’s revenue and the maximum fine for IT business in the Russian Federation.

In addition to the bankruptcy case, the Moscow Arbitration Court took into consideration several more lawsuits against Google’s subsidiary. All of them are about unblocking YouTube channels, but they came from various domestic media. It is assumed that in these cases the funds and property of Google LLC will also be arrested.

Cover photo: Kai Wenzel / Unsplash

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Source: RB.RU by

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