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Moscow oceanarium developer’s claim against offshore set for 2018

10:58 09/08/2017

MOSCOW, August 9 (RAPSI) – The Moscow Commercial Court has postponed hearing of a lawsuit filed by the construction developer of Moscow’s Marine Gardens oceanarium seeking to collect 27.6 billion rubles ($460 million) from Facebook Trading Limited company registered in Cyprus until March 13, 2018, according to court records.

The applicant demands to recover the defendant’s debt under the loan agreement of June 24, 2008. The plaintiff has earlier been controlled by former owner of Kazakh BTA Bank Mukhtar Ablyazov charged in Russia with embezzlement, forgery of documents and abuse of office, and the defendant is also related to the ex-banker.

The Moscow Commercial Court declared Marin Gardens bankrupt in October 2016. The company’s debt was estimated at 9.8 billion rubles ($163 million).

In early 2000s, Moscow authorities leased a large plot of land to Marin Gardens for the construction of the oceanarium. The opening of the object, then called the largest in Eastern Europe, was planned for 2009. The project, however, has never been implemented, and at the moment its completion rate is evaluated at around 16%.

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Moscow oceanarium developer’s claim against offshore set for 2018

10:58 09/08/2017 The Moscow Commercial Court has postponed hearing of a lawsuit filed by the construction developer of Moscow’s Marine Gardens oceanarium seeking to collect 27.6 billion rubles ($460 million) from Facebook Trading Limited company registered in Cyprus until March 13, 2018.
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