A court in St. Petersburg has allowed the government to take over the assets of the country's largest auto dealership, Rolf, founded by businessman Sergei Petrov. The court ruled on February 21 that the company’s shares owned by Delance and Rolf Motors, as well as all existing shares of Rolf Motors, Rolf Estate St. Petersburg, and Rolf Tech must be transferred to Russian government control. President Vladimir Putin signed a decree on temporarily putting Rolf under state management in December. The self-exiled Petrov called Putin's decree a manifestation of "lawlessness" at the time. To read the original story by Current Time, click here.
Russian Court Allows Government To Take Over Assets Of Nation's Biggest Auto Dealer
A Rolf dealership in St. Petersburg (file photo)