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Court to consider large Moscow market's bankruptcy case

14:48 24/10/2011

MOSCOW, October 24 - RAPSI, Sergei Feklyunin. A commercial court will hear on November 16 the Cheryomushkinsky Market's application for own bankruptcy, the court told the Russian Legal Information Agency (RAPSI).

The application was filed on October 14.

Earlier, the Moscow Commercial Court accepted seven lawsuits from Rosselkhozbank (Russian Agricultural Bank) against the Cheryomushkinsky Market and the Vinexim spirits distributor to recover in total 3.329 billion rubles ($106 million).

According to media, the market and Vinexim considered co-investing in a multifunctional complex project in 2005-2006 in Moscow in the location of the old market. The plans included building a shopping and office center by 2007: a fruit and vegetable market, a 700-room hotel, office premises, a recreation center and an underground parking lot.

The project was never implemented.

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Court to consider large Moscow market's bankruptcy case

14:48 24/10/2011 A commercial court will hear on November 16 the Cheryomushkinsky Market's application for own bankruptcy.
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