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22 August 2023

Number of bankrupt state-run companies down by over 18% since 1 January 2023

The number of state-run organizations undergoing economic insolvency (bankruptcy) proceedings has dropped by more than 18% since the start of the year, BelTA learned from the press service of the Economy Ministry.

Thus, as of 1 July, economic insolvency (bankruptcy) proceedings were conducted in respect of 68 state-run organizations (there were 83 such organizations as of 1 January 2023).

“Consistent work is underway to prevent economic insolvency of enterprises. Employees of the Rehabilitation and Bankruptcy Department, local rehabilitation and bankruptcy offices promptly analyze solvency indicators of organizations undergoing rehabilitation proceedings, participate in court hearings, meetings (meetings of the committee) of creditors, working meetings and meetings of commissions for the prevention of economic insolvency, arrange training seminars,” said Yuri Tarakanov, Director of the Rehabilitation and Bankruptcy Department.

According to him, experts analyzed the work of rehabilitation managers at Telekhany Carpentry Plant, Mozyr Vehicle Repair Plant, liquidation proceedings at Grodno Printing House, Berestovitsa Mobile Mechanical Division No. 141, Pinsk Mobile Mechanical and Construction Division No. 5 and etc. Their performance was assessed and ways to deal with the problems were outlined. “The positive results of the work include the conclusion of a settlement agreement by Zabudova Holding Company, the turnaround of Vipra, a possibility of the early termination of rehabilitation proceedings at Trust Grodnogorstroy, he added.

BelTA – News from Belarus

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