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Joint statement on a decision by a meeting of the Arkaim JV (LLC) pool of creditors

10 june 2016 года
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On June 2, 2016, there was a meeting of the Arkaim JV LLC creditors. The meeting made a decision to appeal to an Arbitration Court of the Khabarovsk Territory for instituting proceedings in bankruptcy at the wood processing complex of Arkaim.

In the current situation at the company, the decision made is the only chance to save the company as a unified production entity, prevent downsizing and dismissal of workers, ensure the continuation of production cycle and guarantee the company’s workload. The institution of proceedings in bankruptcy is caused by the need to get the company out of the crisis, ensure uninterrupted output of products,transfer tax payment to the Territory’s budget and meet claims by a pool of creditors includingVnesheconombank, Sberbank, Bank Vozrozhdenie, VTB, Rosselkhozbank.

The Arkaim Joint Venture LLC is one of the largest timber processing complexes of the Far East. Its core activity is logging and manufacturing of sawn materials in the Khabarovsk Territory.


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