Russian bank Sberbank posted the website of a Russian arbitration court saying it plans to start bankruptcy proceedings against fish processor Sokra.
The bank, which owns about 5 percent of the company, posted the notice on Russian Fedresurs on April 17, according to Russian media outlet Vedomosti.
Sokra is based in the Kamchatka region in northeast Russia.
Notifications like these are mandatory during bankruptcy proceedings, head of bankruptcy and restructuring practice at Savina Legal, Alexandra Alfimova, told Vedomosti.
In 2023, Sokra had fishing quotas of about 3,900 metric tons of flounder, 6,000 metric tons of pollock and 1,000 metric tons of cod, according to the Federal Agency for Fisheries.
