MOSCOW, June 3 (RAPSI) – The Moscow Commercial Court has declared Yaposhka City company, the operator of Yaposha restaurants, bankrupt, RAPSI reported from the courtroom on Friday.

On January 29, the court introduced a monitoring procedure at the company upon the request of Trust Bank. Yaposhka City owes over 1.6 billion rubles ($24 million) to the bank. The court entered this debt in a register of creditors' claims.

On December 22, the Moscow Commercial Court ordered NRT Holdings Limited, the founder of Yaposhka City operator of Yaposha restaurants, to pay 710.3 million rubles ($10.6 million) in debt to Trust Bank.

According to business media, NRT Holdings Limited (Cyprus) is the sole owner of Yaposhka City. National Bank Trust owns 19 percent of the Cypriot company, about 62 percent belongs to Yaposha Investments Limited, and the rest is divided among several offshore minority holders.