Google Russia filed for bankruptcy after Russia freezes bank account

 

As anticipated, Google’s Russian subsidiary has filed for chapter.

Russian information service Interfax Friday reported that Google filed a chapter petition with the Moscow Arbitration Court docket on Thursday. This follows the Could 18 submitting meant by Google LLC, a Russian subsidiary of the US-based search big, to declare chapter.

The Could software stems from Russia’s seizure of Google LLC’s checking account because of Google’s stance on Russia’s battle with Ukraine.

[Related: Google Russia To File For Bankruptcy After Bank Account Seized]

Google didn’t reply to a CRN request for extra data by the press time.

“The seizure of Google Russia’s checking account by Russian authorities has prevented the Russian workplace from functioning, together with hiring and paying Russian-based workers, paying suppliers and distributors, and fulfilling different monetary obligations.” A Google spokesperson confirmed on Could 18. Electronic mail to CRN. “Google Russia has launched a discover of its intention to file for chapter.”

Interfax Friday, registered in Russia in 2005, was registered by Google LLC in Russia on the finish of 2021 with an change fee of 134.3 billion rubles, or 1 rubles from December thirty first to January 1st, at an change fee of about $ 1.8 billion, 0.0134. I reported that I reported the greenback. Google LLC additionally posted a internet lack of 26 billion rubles, or $ 348 million. This mentioned Interfax was the corporate’s first loss since 2009.

2022 has confirmed to be a troublesome 12 months for tech corporations which have invested in enterprise alternatives in Russia. Russia’s provocative assaults on Ukraine, together with IBM, HP Inc., Hewlett Packard Enterprise, SAP, DXC Know-how, and Accenture, have led many distinguished tech corporations to droop or droop operations in Russia.

2022 was a very troublesome 12 months for Google in Russia.

Russian information website TAdviser reported that in 2022 Google Russia was fined a complete of 30 million rubles 3 times for not eradicating the banned data. The corporate additionally mentioned it might pay TV channel Tsargrad 1 billion rubles for blocking Google and YouTube channels, 500 million rubles after a lawsuit from Nippon Tv, and 1 billion rubles in circumstances together with all-Russian state tv and radio broadcasts. I used to be compelled to do it. Firm.

As well as, Bloomberg reported in March that Google had begun to maneuver a few of its Russian workers overseas.

Sources

1/ https://Google.com/

2/ https://www.crn.com/information/channel-programs/google-russia-files-for-bankruptcy-after-russia-freezes-bank-account

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