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Idle Volgotanker to be made bankrupt.
(From Lloyds List)
Byline: Jerry Frank
RUSSIAN authorities are understood to be ready to declare inactive river shipping giant and one-time Yukos subsidiary Volgotanker insolvent.
Moscow news sources have reported that state officials want to declare Volgotanker bankrupt in order to resume its operations under a new name.
The Russian inland waterway group's fleet has effectively ceased operations for more than a year following a state probe into unpaid taxes between 2001 and 2005.
This paper last February reported that after an 18-month investigation by regional tax authorities Volgotanker had lost its fight to be considered a separate entity from bankrupt Yukos.
That was decided despite Yukos selling its 75% share in Volgotanker in 2000 to a ...
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