Court declares Pivdenbudmekhanizatsiya bankrupt

The announcement was published in the Holos Ukrainy newspaper on Saturday.

Arseniy Yurinets has been appointed liquidator.

The court also stopped the procedure of the company reorganization started by the committee of creditors in July 2009, cancelled arrests of the company's property and banned their imposition in future.

An individual entrepreneur in July 2008 submitted an application to the Kyiv Economic Court to declare Pivdenbudmekhanizatsiya bankrupt due to its failure to pay debts of UAH 211,700.

The total amount of creditors' demands approved by the court in October 2008 came to UAH 12.016 million.

OJSC Pivdenbudmekhanizatsiya was founded in 1994.

The company's core business is demolition of buildings and structures. The company is also engaged in the construction of highways, railways and runways.

The net loss of the company, according to its data in the information disclosure system of the National Commission on Securities and the Stock Market, last year fell by 10.4% compared to 2010, to UAH 2.83 million, net income fell by 3.3 times, to UAH 4.27 million.

The main owner of the company at the end of 2011 was board chairman Leonid Horayevsky (43.521%).

Its charter capital at the end of 2011 was UAH 8.5 million.