Court ousts trustee in Osha Food's five-year bankruptcy saga
The long-running bankruptcy of Osha Food Corporation JSC has taken another turn after a court ruled against its former trustee. Igor Glustenkov, who oversaw the sale of the company's assets, was found to have acted unlawfully and has now been removed from his position. The case, which began in 2019, has seen multiple changes in leadership as the process drags on. Osha Food Corporation JSC was declared bankrupt in late 2020, following financial troubles that started in February 2019. The company's collapse led to a lengthy insolvency process, now stretching over five years. Alexander Vaisberg was initially appointed as the interim receiver before being replaced by Alexander Tsukanov after the bankruptcy was finalised.
In August 2021, Igor Glustenkov took over as the bankruptcy trustee. His role involved managing the sale of the corporation's assets, which included over 300 properties valued at more than 360 million rubles. However, the Arbitration Court of Omsk Region later determined that his actions during the process were unlawful.
As a result, Glustenkov has been ordered to pay 417,000 rubles into the bankruptcy estate. He has also been relieved of his duties, though details about his replacement remain unclear. The court's decision marks another development in the prolonged bankruptcy of Osha Food Corporation JSC. With Glustenkov no longer in charge, the process will continue under new oversight. The outcome of the asset sales and the final settlement of debts will depend on the next steps taken by the insolvency administrators.
