MOSCOW, December 30 (RAPSI) - The Tatarstan Commercial Court has extended bankruptcy proceedings against VIM Airlines for another six months, according to court records. 

Previously, the proceedings were extended in June.

In May, the former co-president of VIM Airlines Rashid Mursekayev and his wife Svetlana filed a cassation appeal against recovery of wages totaling to 28.9 million rubles (over $450,000) which had been paid in excess to them.

In late December 2019, the court ordered Mursekayev and his wife to return the overpaid funds. The court therefore declared salary orders as well as accounting and paying scale up wages registered in March 2017 invalid upon an application lodged by bankruptcy trustee Alexander Maksimov. In February, an appeals instance upheld the ruling.

In July 2019, the court extended bankruptcy proceedings against VIM Airlines for six months upon a motion by Maksimov.

In April 2019, he filed claims to recover over 7.5 million rubles (about $120,000) of overpaid salary and compensation for employment agreement termination from 17 ex-managers of the air carrier. He also demanded invalidation of salary orders as well as accounting and paying scale up wages from January 2018 to late March 2019 invalid and collection of compensation from the former managers.

On September 26, 2018, the court declared VIM Airlines bankrupt on the request of the company RNGO. Earlier in August, the court granted an application filed by the company, including a 3 billion-ruble ($44 million) debt into the creditors’ demands list.

On October 17, 2017, a criminal case was launched over premeditated bankruptcy of VIM Airlines. In September of the same year the court returned a bankruptcy claim against the airline back to the Deposit Insurance Agency (DIA). According to the court, due to the social tensions surrounding the activities of the airline, the applicant decided to recall the motion.

Investigators believe that certain top managers and owners of the air carrier intentionally made losing bargains in 2016 and 2017 including those aimed at siphoning of assets abroad. The deals led to enormous financial outlay and undoubtedly resulted in the company’s failure to pay debts to creditors in full.

According to investigators, employees of VIM Airlines continued to sell tickets to clients despite being aware that the airline was not able to transfer passengers because there were not enough funds to buy fuel. Investigators believe that the employees embezzled more than one million rubles ($17,000).

VIM Airlines CEO and chief accountant Alexander Kochnev and Yekaterina Panteleyeva have been arrested as part of the case. Co-owners of VIM Airlines Rashid Mursekayev and Svetlana Mursekayeva fled Russia and are currently residing abroad, according to investigators. Allegedly Mursekayev and Kalashnikova fled Russia to hide from investigative authorities. In December, the Basmanny District Court of Moscow issued an arrest warrant for Mursekayev in absentia.