More on Izhmash Arms Bankruptcy

Spiegel has more. The blame is on a slump in arms exports and competition. The latter being unfamiliar to former commies.

Posted in uncategorized on September 30th, 2009 by SayUncle | RSS 2.0 |

Gun Blobber Says:
September 30th, 2009 at 4:46 pm
Meh, if you read carefully you will see that the bankruptcy proceedings were initiated by one of their supposed creditors (who Izhmash is claiming is not really a creditor, but who the supposed creditor says acquired the debts through a “chain of debts”). This is very different than the way that bankruptcy works in the US. Basically Izhmash is being sued to pay up on less than $300,000 in debt. Izhmash likely sold billions of dollars’ worth of weapons last year (based on the stat that Russia as a whole exported $3.5B worth, and I believe that Izhmash is the biggest weapons maker in Russia). I don’t think this case is going to affect Izhmash at all.

Remember, I do this to entertain me, not you.

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