Bank Trust to put oil company Inga for sale in August

MOSCOW, Jul 19 (PRIME) -- Non-core asset bank Trust will put oil company Inga for sale in August, after its creditors have signed an amicable settlement, the bank said on Wednesday.

"The Khanty-Mansi Autonomous District Arbitration Court approved an amicable settlement of a debt between all creditors of Inga, oil development asset of Ruspetro in the framework of bankruptcy. Hence, an industry investor will be able to buy a working oil producing business without debt to third parties," Trust said.

The bank bought Inga and Trans-Oil from Ruspetro in the framework of bankruptcy. Trust settled 24 billion rubles of creditor claims to the companies in June.

Ruspetro’s headquarters are located in London, and its shares were previously traded on the London Stock Exchange. In March 2021, the Moscow Arbitration Court acknowledged the oil producer bankrupt under an 11.4 billion ruble suit filed by Bank Trust. Also, Bank Trust filed a U.S. $32.4 million suit against foreign subsidiaries of Ruspetro in December 2021.

(90.6906 rubles – U.S. $1)

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