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Rossia insurance company's bankruptcy proceedings suspended by court

16:03 18/11/2011

MOSCOW, November 18 - RAPSI, Natalia Belova. A commercial court has suspended the bankruptcy proceedings against the EastOne investment advisory group's Rossia insurance company, the court told the Russian Legal Information agency (RAPSI).

The group is controlled by Ukrainian businessman Viktor Pinchuk.

The bankruptcy application was filed by an individual. The court suspended the proceedings upon the insurer's request until a common jurisdiction court resolves an insurance compensation dispute filed against Rossia under an optional motor insurance policy.

This is not the first application for Rossia's bankruptcy.

The insurer earlier told RIA Novosti that its customers have been abusing their rights more frequently as of late.

Rossia was established in Moscow in April 1990. EastOne purchased a blocking stake in the company in 2007. In early fall 2009, the same group bought another 25-percent interest plus one share to become the controlling shareholder. In early November of the same year, EastOne increased its share in Rossia to 100 percent.

Rossia is one of the top 30 Russian insurers in terms of collected premiums.

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Rossia insurance company's bankruptcy proceedings suspended by court

16:03 18/11/2011 A commercial court has suspended the bankruptcy proceedings against the EastOne investment advisory group's Rossia insurance company.
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