Russian Court Freezes VW Assets, Throwing Road Block In Automaker’s Escape Route | Carscoops carscoops
reports that GAZ filed legal papers demanding 15.6 billion roubles in damages, and a court has responded by freezing all of VW’s assets in Russia until the case is settled.
That decision is a major roadblock in Volkswagen’s attempts to sell off its assets and exit the country. Other automakers have already been forced to take big hit to get out. When Renault exited Russia last year it sold its stake in the country’s Autovaz to the Russian state for one single rouble – barely more than one U.S. cent – despite its assets having been previously valued at $2.35 billion.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russian court freezes all Volkswagen assets in RussiaRussian court freezes German carmaker Volkswagen assets in Russia, court documents show, after lawsuit by Russian auto manufacturer GAZ for breach of contract
Read more »
FTX’s Bahamas Arm a ‘Nullity’ That Should Be Stripped of Assets: Court FilingsA new legal filing threatens to reawaken legal and diplomatic tensions between FTX_Official and its Bahamas arm. jackschickler reports.
Read more »
Volkswagen assets in Russia frozen by court over dispute with GAZVolkswagen has been trying to sell its Russian assets, including its flagship plant in the city of Kaluga, which has been furloughed since March 2022.
Read more »
Russian Airstrikes Continue in Ukraine Despite International Criminal Court Arrest Warrant for PutinThe Ukrainian military additionally said in its regular update Saturday morning that Russian forces over the previous 24 hours launched 34 airstrikes, one missile strike and 57 rounds of anti-aircraft fire.
Read more »
DOJ appeals to Supreme Court after court invalidates domestic violence restraining order gun banThe Justice Department is asking the Supreme Court to allow a federal ban on gun ownership for individuals under domestic abuse retraining orders to stand.
Read more »
FDIC announces agreement to sell Signature Bank assets to New York Community BancorpA subsidiary of New York Community Bancorp has entered into an agreement with U.S. regulators to purchase deposits and loans from New York-based Signature Bank , which was closed earlier this month.
Read more »