OREANDA-NEWS  The bankruptcy of the Moskvich Moscow automobile plant due to a debt claim by the Hong Kong Silver Basis Investment Development Company, a former equipment supplier, has been ruled out. Thus, the company's press service commented on the rumors, TASS reports.

Refuting this possibility, the representative of Moskvich recalled that the company had only announced its intention to go to court, and the information provided to it did not reflect the real financial condition of the plant.

In addition, the company considered the actions taken by Silver Basis aimed at undermining its business reputation. Moskvich has no information about the presentation of a writ of execution by a foreign counterparty in accordance with the procedure established by law, and also reserves the right to appeal against the judicial acts rendered.

Silver Basis supplied equipment to the Moscow automobile plant back when it was owned by Renault. In 2020, the parties concluded a corresponding agreement on the sale of equipment for the serial production of Renault car components. The work was completed in full, but the customer avoided paying for the services.