Lawsuit by GAZ Group to stop sale of Volkswagen plant in Russia

On March 17, 2023, the Arbitration Court of the Nizhny Novgorod Region arrested the property of Volkswagen AG in Russia at the suit of the GAZ group to recover 15.6 billion rubles from the German automaker. This is stated in the ruling of the court, placed in the file cabinet of arbitration cases. The lawsuit was filed on March 16 due to the early termination of the agreement between the parties on the contract assembly of German cars at the site of the GAZ group in Nizhny Novgorod.

In the statement of claim, the GAZ group demanded interim measures, in particular, the arrest of 100% of the shares in Volkswagen Group Rus (FGR) owned by legal entities of the Volkswagen group, as well as real estate and production equipment owned by the FGR.