Court recognized former Governor of Novgorod region as bankrupt

Court recognized former Governor of Novgorod region as bankrupt
Mikhail Prusak

With regard to Mikhail Prusak a procedure for debt readjustment is introduced, a bankruptcy trustee is appointed.

The ex-Governor of the Novgorod region, Mikhail Prusak, was declared bankrupt by the decision of the Arbitrazh Court of the region. According to the materials published on the court's website, a procedure for debt readjustment was imposed on the former official, and the bankruptcy administrator was appointed.

Rosselkhozbank JSC asked to recognize Prusak as a bankrupt; the ex-Head of the region owed the bank about 275 million rubles ($4.8m).

To recall, Prusak was dismissed from the post of Governor in the summer of 2007. He was famous for his 'splicing' with local criminals.

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