The court denied the GAZ group the arrest of Volkswagen assets in Russia

The Arbitration Court of the Nizhny Novgorod Region did not seize the Russian assets of Volkswagen in the second claim of the Gorky Automobile Plant (GAZ) against the German automaker for 28.4 billion rubles, should from the files of arbitration cases.

The court decision dated April 11 states that the claim should not be secured. The next meeting will be held on June 7, according to the case page.

The lawsuit was filed with the court on April 7, 2023. On April 11, the court accepted the application for proceedings. The details of the case are not specified. In the GAZ group from comments refuseda Volkswagen spokesman noted that “first you need to know the essence of the claims.”

GAZ has already filed a lawsuit against Volkswagen in mid-March this year. Then the Russian automaker demanded to reimburse 15.6 billion rubles. due to the early termination of the agreement of the parties on the contract assembly of Skoda and Volkswagen cars at the group’s site in Nizhny Novgorod. This agreement was terminated in August 2022 – three years ahead of schedule – due to the entry into force of US Treasury sanctions against the GAZ group.

On March 17, as interim measures, the court arrested Volkswagen assets, however, already on April 3, the arrest was canceled, including the plant in Kaluga, as well as production equipment and other movable property of the company in the Russian Federation.