Case on bankruptcy of Honda dealer resumed in Russia
MOSCOW, September 26 (RAPSI) – The Ninth Commercial Court of Appeals has resumed hearing of a bankruptcy case against Aoyama Motors, Honda dealership in Russia, RAPSI learnt in the court on Tuesday.
The court granted an appeal against suspension of proceedings filed by the Russian company Nevada. Earlier, the Moscow Commercial Court has suspended the proceedings until a ruling in another dispute over an agreement between two companies becomes final.
Nevada seeks to recover 30.9 million rubles (about $500,000 at the current exchange rate) from Aoyama Motors. This situation is indicative of a growing number of bankruptcies among auto dealers in Russia. For instance, in late 2016, the Moscow Commercial Court declared DM Isuzu company, official dealer of Japanese Isuzu Motors Ltd., bankrupt. Similar troubles were experienced by official dealers of Hino Motors Sales and Hyundai.