BitRiver founder faces bankruptcy filing over loan guarantee default

BitRiver founder Igor Runets is facing a bankruptcy filing from a bank over a default on guaranteed loan obligations, Russian newspaper Kommersant reported. Russia’s PSB Bank filed the petition with the Sverdlovsk Region Arbitration Court and is seeking 773 million rubles ($9.27 million). The bank said Runets, as a guarantor for BitRiver’s loan, bears joint liability for the overdue debt.