5/18, 12:15 PM (Source: TeleTrader)
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Google's subsidiary in Russia to initiate bankruptcy

Google LLC's subsidiary in Russia announced on Wednesday that it is applying to the arbitration court for self-recognized insolvency.

The company stated that "it foresees its own bankruptcy and the impossibility of fulfilling monetary obligations, claims for the payment of severance pay and (or) for remuneration of persons working under an employment contract, and (or) the obligation to pay mandatory payments on time."

Previously, the Russian court opened a case against Google for its refusal to remove content banned in Russia.

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