The Arbitration Court of the Nizhny Novgorod Region partially satisfied the request of Volkswagen Group Rus to cancel arrest of assets at the suit of the GAZ Group. The Volkswagen plant in Kaluga was removed from the arrest – now the company will be able to sell it, since the arrest prohibited any registration actions with the enterprise.
Representatives of Volkswagen Group Rus during the proceedings proved that the estimated value of the arrested Russian assets (47.5 billion rubles) is much higher than the amount of the GAZ claim (15.6 billion rubles). In addition, the Russian division of Volkswagen previously paid compensation in the amount of 4 billion rubles to the Nizhny Novgorod site for the termination of contract assembly of cars, so the amount of the claim was reduced to 11.6 billion rubles.
