Tag: bankruptcy

Northwest Hardwoods files for bankruptcy

US’ hardwood timber giant Northwest Hardwoods has filed for Chapter 11 bankruptcy on November 23rd, saying difficulties from trade disputes with China and the weak markets impacted by COVID-19 pandemic had stunted its ability to service more than $420...

Novoyeniseiskiy LHK went into bankruptcy

According to the information available on the website of the Arbitration Court of the Krasnoyarsk Region, supervision has been introduced at Novoyeniseiskiy LHK. The bankruptcy case against the large Russian timber enterprise was initiated in March 2020 under...

CTS Invest to allocate RUR 2 billion into Pitkyaranta pulpmill modernization

CTS Invest company is going to invest RUR 2 billion into modernization and further development of Pitkyaranta pulpmill, according to the Forest portal of Karelia. This decision was announced at a press conference on July 01 attended by...

Pitkyaranta pulpmill declared bankrupt

The Arbitration Court of Karelia admitted bankruptcy status of Pitkyaranta pulpmill, according to Forest Portal of Karelia. Thus, the court approved the application of the enterprise on its own insolvency. The mill opened bankruptcy proceedings for a period...

Kondopoga newsprint mill is bankrupted, plans to launch second paper machine in mid-March

Petrozavodsk, March 13. Arbitrage court of Karelia regarded Kondopoga mill’s request on bankruptcy on March 06 and approved to introduce bankruptcy administration at the mill, with Andrei Yenkov appointed external mill manager. Liabilities of the mill exceed 13...

Bank Sankt-Peterburg to credit troubled Kondopoga pulpmill and suggests mill conversion

Petrozavodsk, February 05. Karelia governor Aleksandr Hudilainen announced that Bank Sankt-Peterburg was chosen as investor for troubled Kondopoga pulpmill. “We will be crediting the pulpmill, but we are not going to enter this business”, bank’s press service told...

Baikal pulpmill set on bankruptcy administration and received €11.4 million VEB’s credit

Irkutsk, December 28. Arbitration court set bankruptcy administration at Baikal pulpmill until June 05, 2013 following the request of the external administrator. The mill is bankrupted, and Aleksandr Ivanov is appointed its insolvency administrator. At the court session,...