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Technologies 18/04/2013 Creditors of Uzdunrobita to ask court to announce operator as bankrupt
Creditors of Uzdunrobita to ask court to announce operator as bankrupt
Tashkent, Uzbekistan (UzDaily.com) -- Meeting of creditors of Uzdunrobita, a subsidiary of MTS in Uzbekistan, will ask court to announce operator as bankrupt and launch liquidation process once again, RIA Novosti reported.

The report said quoting source that the second session of creditors’ meeting was held on 17 April and majority of creditors supported proposal on asking court to announce operator as bankrupt and launch liquidation process.

Uzdunrobita has filed a petition to declare bankruptcy in the Tashkent Economic Court in January 2013.

The application was submitted after it cannot fulfill its obligations in line with the decisions of Tashkent city court from 17 September 2012 and Appeal Board of Tashkent court from 8 November 2012. In line with court decisions, Uzdunrobita should pay fines and penalties for about US$600 million.

On 11 March 2013, Economic court of Tashkent refused request of creditors of Uzdunrobitaon announcement of the company as bankrupt and launch of liquidation process.

In July the wholly-owned subsidiary of MTS, Uzdunrobita, had its license withdrawn initially for 10 days and then permanently due to repeated and systematic major violations, with the way their cellular network was designed and noncompliance with the instructions of the controlling body.

Several employees of Uzdunrobita were fined and sentenced for correctional works for schemes, created for receiving illegal income. Assets of the company were handed over to the government, but the court abolished decision and said the operator should pay US$600 million of fines and penalties in eight months.

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