Rusnano initiates bankruptcy of the legal entity of the flexible tablet project
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The state corporation Rusnano intends to apply to the Moscow Arbitration Court to declare bankrupt its company Plastic Logic LLC, which is engaged in the project of flexible tablets. At the end of 2022, the company received a loss of 702 million rubles.
The company said “Interfax”that Rusnano handed over inspection materials on the progress of the project to law enforcement agencies. The intention to declare Plastic Logic bankrupt is stated in a message on Fedresource.
“The initiation of the bankruptcy procedure of Plastic Logic LLC is associated with the completion of an assessment of the prospects for restoring the company’s solvency, carried out by the Rusnano team to return the initial investment,” Rusnano reported.
Plastic Logic was founded in 2010 as part of the Rusnano and British Plastic Logic project; it was engaged in the production of flexible displays. In 2011, the former head of Rusnano, Anatoly Chubais, presented the project to Vladimir Putin, who at that time served as Prime Minister.
Mr. Chubais said that tablets would be used in Russian schools. He compared the development with Apple’s iPad and called it “practically the only one in the world” with the technology of a flexible plastic screen without backlight. According to the results of an audit by the Accounts Chamber in 2014, the declared plant in Zelenograd was not built and the technologies were not purchased.
Read more about bankruptcy procedures in the text of Kommersant. “Courts extend the life of a company”.
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