14:12, 12 August 2014

Liquidation commission of "Sochi-2014" OC starts its work

Sochi. Photo by Svetlana Kravchenko for the "Caucasian Knot"

The Organizing Committee (OC) "Sochi-2014", which was engaged in organizing the 22nd Winter Olympic Games, has announced the start of the commission to liquidate it as a legal entity.

The "Caucasian Knot" has reported that the start of self-liquidation was announced by Dmitry Chernyshenko, the OC boss, on March 17, when he noted that process could take several months.

On Tuesday, August 12, the OC sent a notification about the liquidation of the autonomous non-profit organization to the Journal "Bulletin of State Registration," the "Rossiyskaya Gazeta" reports. The liquidation commission shall evaluate the available assets of the organization and make settlements with the creditors, the Financial Dictionary explains.

According to Alexander Zhukov, the President of the Russian Olympic Committee, the operating profits of the OC "Sochi-2014" made about 9 billion roubles, the RIA "Novosti" reports.

According to the State Corporation "Olimpstroy" the preparation for the Olympic Games and development of Sochi as a mountain resort cost 1.5 trillion roubles.