Google Bankruptcy Case in Russia

[tanjimajuha20]

The total amount of monetary liabilities of the Russian division of Google to its creditors exceeded 20.1 billion rubles as of the end of August, according to materials from the first meeting of creditors, which TASS has reviewed. The companies that took part in the event intend to petition for the bankruptcy of Google's office in the Russian Federation, which has already been placed under observation.

The first meeting was attended ghana whatsapp resource by representatives of the Federal Tax Service, the Izhevsk Radio Plant, the Alfa Textiles company (an importer and distributor in the Russian clothing market), the 2GIS mapping service, the Proxima Technology company (engaged in solving various custom tasks) and four other companies.

The sum of their monetary claims against Google is 97.2% of the total, which, in turn, on the date of the meeting (August 22) exceeds 20.177 billion rubles. It also follows from the materials that the creditors at the meeting decided to petition the Moscow Arbitration Court to declare Russian Google bankrupt and to open bankruptcy proceedings against it.

The corporation's division's accounts receivable already exceed 27 billion rubles, according to documents from the Moscow arbitration court published at the end of 2022. The debt on wages and severance pay for employees amounted to 271.2 million rubles, and on mandatory payments - 85.7 million rubles.

In May 2022, the corporation's Russian subsidiary expressed its intention to file for bankruptcy, stating that it could not fulfill its monetary obligations. The Arbitration Court of Appeal introduced the initial bankruptcy procedure - observation - against Google LLC in November of the same year.

Since then, more than 1,000 Russian companies have filed claims against Google, including VK, 1C-Bitrix, Diasoft and others. Most of the claims are related to the failure to provide advertising services, which Google suspended after filing for bankruptcy.

According to the results of 2022, the revenue of Google LLC decreased by 82% compared to the previous year, from 134.3 billion to 24.2 billion rubles. The company's net loss for 2022 decreased by 61% compared to the previous year, to 10.2 billion rubles.