OREANDA-NEWS. The Arbitration Court of the Rostov region extended for six months the bankruptcy proceeding at “Taganrog Automobile Plant", which was declared bankrupt a year ago. According to the agency "RIA Novosti", the representative of the court, at the request of the bankruptcy trustee, the bankruptcy proceeding at "TagAZ" was extended until June 24th, 2015.

According to the documents, for today it was assessed the main part of the debtor's property, there are held auctions for the sale of property of company. In addition, it was formed the register of creditors and it was held the work to get accounts receivable.

Recall the production on "TagAZ" was stopped in autumn of 2012. At the beginning of 2014, Rostov arbitrage recognized bankrupt the plant and it opened against it receivership. Debt of the plant, according to the register of creditors' claims, is more than 31 billion Rubles (major lenders are - Sberbank, VTB and Gazprombank).

Taganrog Automobile Plant was established in February of 1997. The company produced passenger cars and commercial vehicles under the brands Hyundai, BYD and own brands Tagaz, Vortex and Aquila. The capacity of "TagAZ" can produce up to 180,000 cars per a year. According to Rostovstat, "TagAz" reduced the production of cars by 89.6% in 2013 and it produces trucks and buses.