SPB Exchange filed for bankruptcy on its own – Kommersant
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The Moscow Arbitration Court published definition according to the bankruptcy petition filed by St. Petersburg Exchange. According to the definition, the site itself filed for bankruptcy. Previously at the Central Bank talkedthat the submitted application was not processed by the St. Petersburg Exchange.
“Return the application of PJSC SPB Exchange to declare it insolvent (bankrupt). The return of the application does not prevent the repeated filing of the same demand with the arbitration court in the general manner after the elimination of the circumstances that served as the basis for its return (Part 6 of Article 129 of the Arbitration Procedure Code of the Russian Federation),” the court’s ruling says.
The filing of a claim for bankruptcy of the St. Petersburg Exchange became known on the eve of November 27. Against this background, the company’s shares on the Moscow Exchange fell by 30%. The Central Bank announced that it would study the situation surrounding the St. Petersburg Exchange’s lawsuit and analyze the actions of shareholders for market manipulation and the use of insider information. The St. Petersburg Exchange itself noted that it did not file a claim for its own bankruptcy.
Read more in the Kommersant article. “Bankruptcy was traded on the St. Petersburg Exchange.”
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