MOSCOW, September 21 (RIA Novosti) - An arbitration court has accepted a bankruptcy suit against the producer of Russia's famed Kalashnikov assault rifles, Russian media reported on Monday.
A court in the Urals republic of Udmurtia said on its website that the suit had been filed by a previously unknown company named Gremikha. It did not specify the connection between the plaintiff and Izhmash, the owner of the Kalashnikov plant.
The court said a hearing on the suit would be held on October 7.
Observers said bankruptcy would help Izhmash, Russia's largest firearms producer, to deal with its debt burden, but warned that new wave of unemployment would sweep the region.
They need a Bail Out.... Obama to the rescue!
Russia actually owns this firm. Bankrupt?
BTW, the Russians will be able to crank these out like candy when the time comes.
Wow. Russia has normal bankruptcy laws but in
Zimbab-America - the govt just grabs the bondholders money & rights and gives it to the unions/”workers.”