20 Apr 2022 19:04

Novatek waives bankruptcy moratorium, maintains rights to dividend payments, buyback

MOSCOW. April 20 (Interfax) - Novatek has applied for a waiver of the moratorium on filing bankruptcy cases with creditors, the company said in a notice on Fedresurs.

As such, the company will not fall under the moratorium imposed by the government resolution from March 28, 2022.

On April 1, 2022, the government introduced a six-month moratorium on filing bankruptcy cases at the request of creditors against legal entities, individual entrepreneurs and citizens. In order to retain the right to pay dividends or conduct buybacks, the issuer must waive the moratorium.

Novatek also waived a moratorium when it was first offered during Covid-19.