MOSCOW, August 13 - RAPSI, Sergei Feklyunin. Unicredit Bank has submitted a lawsuit to recognize SU-155's parent company as insolvent.

The application has been registered in the Moscow Commercial Court.

UniCredit Bank is part of Italy's UniCredit group.

SU-155 is a Russian construction company with an over 50 year history. It comprises 64 industrial and construction enterprises in more than 17 Russian cities.

The construction company's projects are located in 50 cities throughout Russia, the CIS and Europe. Mikhail Balakin, the chairman of the board, is the company's main owner. Its turnover grew 47 percent in 2011 compared to 2010 to 78.7 billion rubles ($2.47 billion).

SU-155 confirmed in a conversation with RIA Novosti that it has various obligations.

"SU-155 confirms that it owes debt to Unicredit Bank and it is determined to execute its obligations under the debt," its representative said. The Russian Legal Information Agency (RAPSI/rapsinews.com) has yet to obtain comments from the bank.

Meanwhile, the court has received applications from three other credit institutions demanding that the construction company be recognized as bankrupt. The proceedings in the claims filed by Bank Narodniy Credit, Akibank (Kazan) and Nordea Bank have been initiated, but the dates for their consideration have not yet been scheduled, as the court must still consider the applications of several minor SU-155 creditors that also seek to recognize the company as bankrupt.

In late 2011-early 2012, SU-155 regularly paid its debt to credit institutions. Sberbank, the companys main creditor, received over 15.8 billion rubles ($496.07 million) from SU-155 in 1.5 years. The companys business volume fell by 27 billion rubles ($847.71 million) in this period.