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SU-155 Paying Off Debts

Construction company SU-155 has paid more than 2 billion rubles ($66.2 million) on 14 bankruptcy claims, the Moscow-based firm said, Vedomosti reported.

The company said it had paid all creditors that had bankruptcy claims against it. A spokesman for the firm said the debt was paid using funds received from apartment sales.

A spokesman for Ursa Capital, which does consulting  for SU-155, said the builder had reduced its debt to less than 20 billion rubles by the end of 2012.  

In addition to apartment sales, SU-155 is getting funding from a major contract with the Defense Ministry, for which it is building 178,400 square meters of residential space in Moscow for 13 billion rubles, the spokesman said.

(MT)

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