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Today's paper. Last Updated: 05/25/2012

Glavstroi Subsidiary Files for Krost's Bankruptcy

Mosmontazhspetsstroi, a subsidiary of Glavstroi, the construction holding fully-owned by Oleg Deripaska, has filed a petition with the Moscow Abitration Court against Krost, a Moscow-based developer, for bankruptcy. The filing was registered January 13, 2010, but has not yet had its first hearing, the court’s web site showed.

Krost was originally subject to a lawsuit from Mosmontazhspetsstroi in which it was ordered to repay debt to the tune of 3.5 million rubles, a court filing from May 2009 showed, Vedomosti reported. Krost’s general director and owner, Alexei Dobashin, said that his company did owe about 400,000 rubles to the firm, but that Krost, via its subsidiaries, was in fact owed up to 5.7 million rubles by Glavstroi and other subsidiaries.

Glavstroi’s spokesman Vitaly Korolyov was not able to confirm debts owed by Glavstroi to Krost companies, but was certain that Mosmontazhspetsstroi was owed money by Krost – about half a million rubles – for unpaid services. He added that an out-of-court settlement could be a possibility, if Krost engaged in constructive dialog.

“I don’t have the statistics to hand, but it might even be Glavstroi group’s first bankruptcy filing against another company since the crisis began. Normally, it’s our last resort,” said Korolyov.





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