Belgian Court Freezes €115M of Google Assets to Pay Off Russian Debts

LLC Google, the bankrupt Russian subsidiary of the search giant, has successfully convinced a Belgian court to freeze €115 million worth of assets belonging to Google Belgium. The tactical move is an attempt to halt any potential restructuring or escape routes for the Belgian division before the legal battle reaches its final showdown.

The entire drama centers around €112 million in dividends that Alphabet quietly pulled out of its Russian entity shortly before filing for bankruptcy there. Russian creditors cried foul, arguing that this was a classic corporate move to leave local partners holding an empty bag while saving the corporate treasure.

Since there are no valuable assets left inside Russia to seize, the legal team coordinated by Artur Zurabyan from the Art De Lex law firm decided to take the hunt global. Belgian attorney Michael de Buck, representing the Russian entity, argues that global tech giants cannot simply ignore local legal obligations and expect their overseas pockets to remain untouched.

Belgium is just one stop on this international asset-hunting tour. The bankrupt subsidiary has already initiated recognition of Russian court rulings in ten different countries, having successfully frozen local Google assets and shares in South Africa and France, while a court in Madrid has recently confirmed its jurisdiction to join the chase.

It is a masterclass in legal irony: a bankrupt shell company successfully weaponizing Western European courts to freeze the assets of an American tech monopoly. As these asset freezes pop up across the globe, it seems the world’s favorite search engine is learning that deleting your history doesn't actually delete your debts.