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Moscow court rules Donstroy co-founder owes $168 million to Vnesheconombank

10:51 12/10/2018

MOSCOW, October 12 (RAPSI) – The Moscow Commercial Court has granted a motion filed by Vnesheconombank seeking to include a 11.1-billion-ruble ($168 million) debt owed by Donstroy company’s co-founder Maksim Blazhko into the list of creditors' claims, the court ruling reads.

This summer, Russia’s Deposit Insurance Agency (DIA) as well as a number of individuals and foreign companies filed similar petitions, seeking to recover about 28 billion rubles ($424.2 million) from Blazhko.

In August, the court dismissed a motion seeking to prohibit Blazhko from being able to make deals concerning his apartment and Rita company’s shares evaluated at 199 million rubles ($2.9 million).

According to the court, the applicant did not prove that there was a need to impose such restrictions as asset seizure.

Earlier, the financial manager of Blazhko’s property Yury Vnukov asked the Moscow court to recover information from the businessman. The request concerns information on Blazhko’s property status, bank accounts and his current location.
On May 18, the court initiated a debt restructuring process against the co-founder of Donstroy.

In November 2018, the Moscow City Court overturned a ruling that put the businessman under house arrest. Blazhko is charged with abuse of office led to grave consequences.

According to media reports, in 2011, Shyuka company managed by Blazhko took $275-million credit from Sberbank and promised to transfer 80% of rent payments from the company’s trading center. However, Blazhko allegedly ordered to stop paying Sberbank and transfer money to other banks.

Donstroy is the Russian construction company founded in 1994 by Blazhko and Dmitry Zelenov.

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Moscow court rules Donstroy co-founder owes $168 million to Vnesheconombank

10:51 12/10/2018 The Moscow Commercial Court has granted a motion filed by Vnesheconombank seeking to include a 11.1-billion-ruble ($168 million) debt owed by Donstroy company’s co-founder Maksim Blazhko into the list of creditors' claims.
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