The Moscow Arbitration Court has recognised Google’s Russian division’s self-declared bankruptcy.
According to ComNews, it has now gone on to initiate bankruptcy proceedings at the company.
Google’s Russian division had a net loss of R26.42 billion (€430 million) in 2021, compared to a net profit of R1.7 billion the previous year.
Meanwhile, its debts amounted to over R19 billion.
ComNews notes that in the past month alone the Moscow Arbitration Court initiated 36 cases against Google’s Russian division.
The division has been hit by a series of gigantic fines.
