CROC IT company wants to initiate insolvency procedures against Oracle in Russia

MOSCOW. Dec 6 (Interfax) - CJSC Croc Incorporated, operating under the CROC brand name, intends to appeal to the courts to declare JSC Oracle Computer Equipment insolvent (bankrupt), according to the Fedresurs unified federal register of important information on legal entities and individual entrepreneurs.

PJSC MegaFon earlier in October announced its intention to initiate insolvency procedures against the company, explaining at the time that Oracle's Russian entity "is not in compliance with the court decision that has entered into legal force on recovering the amount for non-fulfillment of contractual obligations."

Interfax has sent a request to the press service of CROC.

According to the file of arbitration cases, CROC filed a lawsuit against Oracle in the Russian Federation in June this year, and the court in October rendered a decision on recovering 47.4 million rubles from the respondent for "unjust enrichment" as per a contract for providing technical support services. The contract was signed in August 2021, but was never fulfilled, according to the court materials.

Oracle suspended operations in Russia in March 2022.