MOSCOW, November 29 (RAPSI) – The Supreme Court of Russia has upheld denial of recovery of nearly 81 million rubles (about $1.2 million) from ex-Transaero founder Alexander Pleshakov and his family, according to court records.

In April, the Commercial Court of St. Petersburg and Leningrad Region dismissed an application filed by Transaero’s bankruptcy supervisor Alexey Belokopyt demanding the funds.

The supervisor asked the court to quash the transactions related to the payment of Transaero dividends in 2013 and return the funds plus interest to the bankruptcy estate charging the money from Pleshakov, his mother, wife and two daughters.

In early March, the court dismissed two other claims lodged Belokopyt seeking to collect over 20 million rubles (about $300,000) from ex-Board Chairman of Transaero Olga Pleshakova. The applicant asked the court to invalidate certain transactions carried out by the former director as the operations in question were made immediately prior to Transaero bankruptcy.

Moreover, in March, VTB bank filed a lawsuit seeking to collect 249.2 billion rubles ($4 billion) from Transaero air carrier’s founder Alexander Pleshakov, ex- Board Chairman Olga Pleshakova and Pleshakov’s mother.

Transaero found itself unable to pay its debts valued at 250 billion rubles (about $4 billion) in 2015. The government-approved plan of transferring 75% of company’s shares to Aeroflot failed. Its problems resulted in a large number of flight cancels and delays.

In October 2015, Sberbank and Alfa Bank filed bankruptcy petitions against the troubled airline. The Commercial Court of St. Petersburg and Leningrad Region initiated bankruptcy procedure against Transaero on December 16.

On September 13, 2017, Transaero was declared bankrupt.