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Businessman Says He Bought Noga Debt
American businessman Alexander Kogan has stated again at a press conference at the RIA Novosti information agency that he bought the right to demand the Russian Federation's debt to the Noga company from four Swiss banks that were creditors of Noga and resold that right to Russia. All that took place in 2006.
Noga transferred the right to that debt to the four banks in 1993 in connection with its bankruptcy. Later, the amount of that debt was established by the Stockholm Arbitration Court to be $70 million.
Kogan said he made between $1.5 million and $2 million from the resale of that debt. He suggested that Noga head Nessim Gaon seizes Russian property and assets from time to time to keep his creditors pacified. Kogan estimated Gaon's personal debt at $190 million.
At the beginning of the year, a French court seized the accounts of a number of Russian organizations, including RIA Novosti and the Paris branch of Vneshtorgbank. Gaon and his family will be able to file such suits until an arbitration court rules that he has no claims against the Russian Federation.
www.kommersant.com
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Photo: Dmitry Dukhanin
