The JFC Group has failed in its efforts to oust its bankruptcy administrator in the St. Petersburg Commercial Court.
JFC Group is currently involved in a court supervised bankruptcy procedure.
The creditor, Raiffeisen Bank, claimed that Dmitry Bubnov, the temporary administrator of the fruit company, has twice failed to submit the regular performance reports required by the court as well as his analysis of the debtor’s fiscal status.
However, according to the court, the bank has not presented any evidence showing that Bubnov has been negligent, as claimed by the bank. Raiffeisen claimed that Bubnov’s inaction has entailed, or could have entailed, losses for the debtor and the creditors.
The group’s major creditors include the Bank of Moscow, Sberbank, Promsvyazbank, Uralsib Bank, and Raiffeisen Bank.
Source: www.freshplaza.com