Application for development company's bankruptcy revoked by creditor
MOSCOW, September 20 - RAPSI, Sergei Feklyunin. Dzerzhinsky Trade Center submitted an appeal to the Moscow Commercial Court to revoke its application for the bankruptcy of PIK Group, one of Russia's leading development companies, the Russian Legal Information Agency (RAPSI) reports.
PIK Group was established in 1994. It became the most highly valued Russian development company with an IPO in London in 2007. The company's capitalization exceeded $12 billion at the time. Two judgments against the developer, for about $79,710, have entered into force.
Since the court has already initiated proceedings, the appeal on revoking the trade centers application will be heard in court on September 27 as part of the proceedings.
The Moscow Commercial Court earlier set October 11 to hear the validity of Dzerzhinsky Trade Center's application.
Both parties refused to comment to RAPSI.