The court arrested all Volkswagen assets in Russia at the suit of the GAZ group
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The automobile plant of the GAZ group demanded to invalidate the termination of the agreement with Volkswagen (VW) on contract assembly in Nizhny Novgorod. The plant appealed to the Arbitration Court of the Nizhny Novgorod Region with a demand to recover 15.6 billion rubles from the German concern. losses. The court granted the petition and seized the shares in the Russian representative office of VW and in legal entities controlled by it.
The lawsuit was filed on March 14, and the decision was made on March 17. By a court decision, all the property of the concern in the Russian Federation was arrested. In addition, the court banned any registration actions related to the liquidation, reorganization, change in the composition of participants, increase and decrease in the authorized capital of the Russian “daughter” of VW and legal entities controlled by it, Interfax reports.
In March 2022, Volkswagen Group Rus stopped production of cars at factories in Kaluga and Nizhny Novgorod until further notice. In October, the German newspaper Frankfurter Allgemeine Zeitung informedthat Volkswagen is looking for an investor who will be willing to buy the plant. German concern allowed sale of its assets in Russia.
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