The Moscow Arbitration Court has shelved a suit by Infosphere Ltd. to push Oleg Deripaska's Glavmosstroi into bankruptcy.
The sides came to an out-of-court settlement on Glavmosstroi's debt, and the plaintiff requested that the proceedings be halted. A spokesman for Glavstroi, which owns Glavmosstroi, said the company had already paid the debt.
A bankruptcy suit was filed in June 2009 by Strom Holding, which afterward passed on the rights to the loan to Infosphere Ltd. Vedomosti could find no information on the firm.
Earlier, a source close to Glavmosstroi said the bankruptcy was initiated by entities connected with Glavstroi to protect itself from creditors — mainly from Alfa Bank, to which the builder owes some 2 billion rubles ($68 million). At the end of 2009, Glavmosstroi got a 2.1 billion ruble loan from Bank of Moscow that it used to pay Alfa Bank.
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