The people say quite a few top managers, including General Director Sergei Ozerov and Financial Director Oleg Slesarevsky, left MIAN during a year because of the tax probe.
Photo: Kirill Tulin
| Other Photos |
 |
|
 |
Real Estate Agency Falls to Demolition
For the first time, a big company of Russia’s realtor market is on the verge of being acknowledged bancrupt. Moscow Investment Agency of Real Estate (MIAN) has been presented with tax charges of 1.2 billion ruble. Of interest is that not tax officers but some regional Gianeia set the bankruptcy into motion and the emergence of such creditor, the analysts speculate, signals that MIAN itself is probably willing to benefit from bankruptcy.
MIAN is undergoing bankruptcy proceedings. Moscow Arbitration ruled May 20 to supervise it and appointed a receiver, Anatoly Kropotin from Samara region. The court will decide on MIAN bankruptcy October 30.
Saratov Gianeia went to law for MIAN bankruptcy. The realtor owes 1.4 million ruble to Gianeia and the latter lodged an application to the court after the attempts of tax officers to initiate that company’s bankruptcy. The tax authorities presented to MIAN claims for 1.2 billion ruble for 2002 and 2003 far back in 2006. MIAN settled the tax debt in mid-March, although a source with Federal Tax Service says it paid off no more than 600 million ruble of arrears, i.e. the penalty is still outstanding. Nevertheless, by paying the arrears, MIAN stripped authorities of bankruptcy chance.
ZAO MIAN is an asset management company of the holding that unites about ten firms involved in realtor, development and fitness-club businesses. Its principal owner is Alexander Senatorov. The worth of net assets of ZAO MIAN was $677.5 million, own funds amounted to $370.7 million and liabilities equaled $271.8 million as of July 2006; the company hasn’t disclosed its financial indicators ever since.
The market players say quite a few top managers, including General Director Sergei Ozerov and Financial Director Oleg Slesarevsky, left MIAN during a year because of the tax probe.
Gianeia couldn’t be reached for comment yesterday and the lawyers doubt it independently initiated the bankruptcy. That company had bought out credit indebtedness of MIAN and this pattern is widely applied in the practice of ordered bankruptcy.
www.kommersant.com
All the Article in Russian as of July 29, 2008
|
|
|
