Categories: Auto News

GM subsidiary put up its Russian assets for sale

A lot worth more than 3 billion rubles was put up for auction. It included about 24 thousand auto parts and 131 vehicles. The sale will take place on the All-Russian Electronic Trading Platform (VETP) in the format of a public offer. This was reported by the Business News Agency.

The auction is taking place as part of the bankruptcy proceedings of the General Motors Auto company, which was declared bankrupt by the decision of the Moscow Arbitration Court. Applications are accepted from March 23 to May 19.

The bankruptcy procedure began after a lawsuit by the Autoleague-Zapad dealership, which demanded 1.2 million rubles from the company for warranty repairs of a Cadillac Escalade. The court granted the demands, but no payment was forthcoming.

The court supported the dealer, rejecting the arguments of the tax and prosecutor’s offices about lost profits. The company effectively shut down after 2022, stopping deliveries and dissolving its dealer network.

Previously, the main disadvantages of the used Geely Atlas crossover were named.

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