Sinotruk Corporation Trying to Get 14.5 Million Dollars Back From Russia
(chinatrucks.com, Oct.30, 2009)The China National Heavy Duty Truck Import & Export Co. (Sinotruk) has won a case in the Russian court. On 28 October the Arbitration Court of the Sverdlovsk Oblast declared "justified" the Chinese creditor's claim of 14.5 million dollars against StroyDorMash Ltd. (Ekaterinburg).
In 2008 Sinotruk has supplied road building machinery to StroyDorMash for which the buyer has not paid in full. Xie Jinying, the Consul General of the PRC in Ekaterinburg, told RusBusinessNews that this is the first time that the Chinese have encountered this kind of extraordinary situation.
This Urals company is a large distributor of imported, predominantly Chinese, road building machines and parts. In September 2009 the company's management initiated the procedure of external monitoring at StroyDorMash Ltd.
More than 40 creditors are trying to get paid for machines and services supplied. The company's debt to Sinotruk is the largest. In experts' opinion it is unlikely that the creditors will manage to get they money in full. It cannot be ruled out that all of the company's liquid assets have already been funnelled out of StroyDorMash.
Sinotruk is the leading Chinese manufacturer of heavy trucks, special machines, dumper trucks, and articulated trucks with the full weight of up to 60 tons, as well as special automotive machinery and buses under the CNHTC brand. The corporation includes about 20 plants of various sizes.
Views:0
- SINOTRUK Launches Its New Generation of C9H Truck 2022-03-18
- Mass SINOTRUK Electric Trucks Put into Operation in Port and Logistics Sectors 2022-03-17
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022 2022-02-28
- China’s Domestic Tractor Sales Exceed 40,000 Units in January 2022-02-21
- SINOTRUCK’s Hydrogen Heavy-Duty Trucks Help Build-up of Green Ports 2022-01-13
- SINOTRUK Heavy-duty Truck Sales Jumped up to the Second Place in 2021 2022-01-04
- Malaysia: Roda Dimensi Is On Track with SINOTRUK SITRAK 2021-11-05
- China Top 10 Tractor Head Performers in September 2021-10-22
- CNHTC to Release its First Pickup in Q4 2021-05-20
- CNHTC Rolls Out Fifth Generation S-AMT 16-speed Transmission 2021-03-22
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
