Volkswagen threatens bankruptcy in Russia due to debt to the creditor company

The Russian company “Kame” filed an application with the Moscow Arbitration Court of the bankrupt of the German automobile concern Volkswagen AG. Earlier, Kamea acquired the Volkswagen debt to the Nizhny Novgorod Automobile Plant GAZ (now Automobile Plant NAS). A debt of 17 billion rubles was purchased for just 120 million rubles.

Volkswagen debt obligations to gas arose after a decision of the Nizhny Novgorod Region in 2024, when the concern was obliged to pay 16.9 billion rubles as a compensation for termination of the Volkswagen and Skoda contract assembly at the factory in Nizhny Novgorod and related losses.

Now the Volkswagen debt to Kamei, according to official figures, includes 16.9 billion rubles of damage and missed benefits, 40.05 thousand euros and 119 thousand rubles of legal costs. Volkswagen attempts to challenge the Camé debt itself in court.

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Lawyers surveyed as experts consider the chances of initiating Volkswagen bankruptcy proceedings, as the concern no longer has property or representative office in Russia. However, they do not exclude that the “Kame” may try to find the penalty to the assets of the Russian dealer Porsche (LLC “Porsche Center Moscow”), which, as confirmed by reporting for 2024, is part of the Volkswagen AG group.