Russian Office Of Google Initiates Its Own Bankruptcy - Federal Registry

Daniyal Sohail Published May 18, 2022 | 03:30 PM

MOSCOW (UrduPoint News / Sputnik - 18th May, 2022) The Russian branch of IT giant Google has initiated its own bankruptcy in connection with non-fulfillment of financial obligations, according to the data on the Fedresurs Federal registry of subjects of economic activity on Wednesday.

"(Google) applies with a notice of intent to file for insolvency (bankruptcy) ...

since from March 22, 2022, it foresees its own bankruptcy and the impossibility of fulfilling monetary obligations," the registry read.

As of now, Google need to pay a turnover fine of more than 7.2 billion rubles ($113.3 million), according to claims filed by Russian media regulator Roskomnadzor. The company was supposed to pay the specified amount by March 19, but it failed to comply with the requirement, prompting another case in early May for the forced recovery of funds.