Google’s Russian Subsidiary Settles Fines Imposed on US Parent Company
Bankruptcy administrator Valery Talyarovsky said that more than 16.7 billion rubles ($206.5 million) had been deposited into the Russian entity OOO Google’s bank account by September 20, according to reports.
Of that sum, Russia’s Federal Bailiffs Service seized approximately 14.7 billion rubles ($181.7 million) to cover penalties imposed on the American corporation, Talyarovsky said.
The service also recovered more than 2.1 billion rubles ($26 million) from debtors of the Russian subsidiary through enforcement proceedings in its favor. Those proceeds were also directed toward settling the parent company’s fines, bringing the total payments to nearly 16.8 billion rubles ($207.7 million).
Talyarovsky added that more than 18.8 billion rubles ($232.5 million) had been transferred into OOO Google’s bankruptcy estate throughout the insolvency proceedings.
The remaining money was allocated to outstanding claims from the Federal Tax Service, unpaid wages owed to former staff and other expenses. More than 400 million rubles ($5 million) was used to settle employee wage arrears.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
