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Monitoring procedure initiated against Russian Xiaomi reseller following bank petition

19:21 31/08/2020

MOSCOW, August 31 (RAPSI) – The Moscow Commercial Court has introduced a monitoring procedure against Retentiva Distribution Company, a reseller of Xiaomi in Russia, upon an application of Bank Otkritie, according to court records.

The company’s debt to the credit organization estimated at 666.4 million rubles (about $9 million) has been added to the list of creditors. 

Earlier, the court put on hold a bankruptcy petition filed by GPB Factoring company against Retentiva Distribution Company because of its inappropriate handling until April 21.

On November 26, the court granted a claim of Mobilidi and collected 201.7 million rubles of the principal amount outstanding under a loan agreement plus penalties from the reseller.

Retentiva Distribution Company is also an official distributor of Jinga smartphones, cell phones and original accessories in Russia and American smart watches Fossil.


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Monitoring procedure initiated against Russian Xiaomi reseller following bank petition

19:21 31/08/2020 The Moscow Commercial Court has introduced a monitoring procedure against Retentiva Distribution Company, a reseller of Xiaomi in Russia, upon an application of Bank Otkritie.
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