Russia’s tax authority has asked a court in St Petersburg to terminate the bankruptcy proceedings of former carrier Transaero, arguing that the estate may not have enough money even to cover the costs of the case. The hearing on the motion is scheduled for 1 September, keeping the long-running insolvency process active for now.
The filing comes after another court in Moscow extended the deadline for completing Transaero’s liquidation to 13 September, underlining that the case is still being managed through the courts. Transaero entered bankruptcy proceedings in 2017 and its creditor claims were reported at about 245 billion rubles in 2022.
If the proceeding is closed, creditors would face a further obstacle in recovering outstanding claims from an estate that appears to be heavily depleted. The latest move also follows years of litigation over attempts to hold former executives liable for the airline’s debts, alongside repeated delays in concluding the bankruptcy.