The 18th Arbitration Appellate Court in Chelyabinsk rejected the appeal of "Kyshtym Machine-Building Association" (KMO) and upheld the decision to declare the plant bankrupt. The external observation procedure will continue against the enterprise.
The lawsuit for the recovery of 121.5 million rubles was filed by "Asto Consulting" company. Later, other creditors joined the process, including banks, the tax service, and several organizations.
A meeting based on the results of the observation procedure will be held on June 15. Based on its results, the court will decide on possible financial recovery, external management, or transition to bankruptcy proceedings.
Recall that KMO is the only manufacturer in Russia of certain types of mining equipment and drilling tools.