Monitoring procedure initiated against Russian Xiaomi reseller following bank petition
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.