The Arbitrary court of Krasnodar region has declared the Krasnodar Metal Structures Works bankrupt and has imposed bankruptcy proceedings for 6 months.
The bankruptcy was initiated by SMK-Retail LLC, which claimed 1.36 billion rubles.
In 2011 the works borrowed 1.17 billion rubles for modernization from Sberbank.
The works was unable to pay, and the bank gave the rights to recover funds to SBK-Retail LLC. (Ukrainian metal)