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Gras group may go bankrupt
01.03.2016
Monolit Center company filed an application for bankruptcy of MFK Gras CJSC to Moscow City Arbitration Court. Earlier the developer subdivision of Gras group reported that it may receive two more bankruptcy claims - from VTB and Sberbank. Sberbank opened a credit facility for the group in the amount of 4 billion rubles for construction of Flotilla residential development in Moscow, and VTF finances San-City in Sochi.
Partner of YUST Law Firm Alexander Bolomatov reminded to Vedomosti newspaper that if the company is declared insolvent its property, including residential developments, shall be sold in a public sale and the money from it will be used for debt repayment.
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Monolit Center company filed an application for bankruptcy of MFK Gras CJSC to Moscow City Arbitration Court. Earlier the developer subdivision of Gras group reported that it may receive two more bankruptcy claims - from VTB and Sberbank. Sberbank opened a credit facility for the group in the amount of 4 billion rubles for construction of Flotilla residential development in Moscow, and VTF finances San-City in Sochi. Partner of YUST Law Firm Alexander Bolomatov reminded to Vedomosti newspaper that if the company is declared insolvent its property, including residential developments, shall be sold in a public sale and the money from it will be used for debt repayment.
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