$228m land in Rublyovka sold for $7.2m

$228m land in Rublyovka sold for $7.2m
Anatoly Motylev Photo: RBC

Its new owner is publisher of Inc. magazine Ivan Palikhata.

The younger brother of president of the investment fund LegacySquareCapital, publisher of Inc. magazine in Russia, and sponsor of Ksenia Sobchak’s presidential campaign Vladimir Palikhata – Ivan Palikhata – has bought a large plot of land in Rublyovka for only 21 thousand rubles ($369) per hundred square meters.

According to Vedomosti, the transaction price for 14 plots of land in such a prestigious area with a total area of 192.7 hectares amounted to 411.5 million rubles ($7.2 million).

According to the Unified State Register of Taxpayers, this is a huge plot of land located between the Rublyovo-Uspenskoe highway and the Moscow River in the Kuntsevo district of the Western Administrative District of Moscow. The cadastral value of the land plot exceeds 13 billion rubles ($228 million).

The information on the sale is registered in the Unified State Register of Bankruptcy data base. The seller is Tekhnomark LLC.

The Tekhnomark Limited Liability Company, in turn, purchased these lands from Timofey and Andrey Klinovskikh and Lina Ermochenko in 2014. Tekhnomark paid only part of the amount. The transaction’s guarantor was ex-owner of Globex and Rossiyskiy Kredit banks Anatoly Motylev.

To get their money, the former owners of the land plots appealed to the courts with a demand to repay the debt, which by that time amounted to 9.4 billion rubles ($165 million), including the interest for late payment. In total, 16 creditors appealed against Motylev. The total amount of payments amounted to 23.5 billion rubles ($412 million).

Until 2009, Motylev was co-owner of Globex bank and Rossiyskiy Kredit, M Bank, AMB Bank, and Tulsky Promyshlennik group of banks. Later, all these banks lost their licenses, and Motylev lost 110 billion rubles (1.9 billion). In early 2018, the Moscow Arbitration Court declared it bankrupt.

In addition, Motylev owned the non-governmental pension funds — Sberfond Solnechny Bereg, Solntse. Zhizn. Pensiya, Sberegatelny, Uralvagonzavodsky, Adekta-Pensiya, Solnechnoe Vremya, and Zashchita Buduschego. In 2015, their licenses were also revoked; 35.6 billion rubles ($625 million) were liquidated from the total amount of pension savings, which amounted to 50.6 billion rubles ($889 million).

Previously, Vedomosti learned that Motylev wanted to build modern housing on these lands. After a criminal case under Swindling on an Especially Large Scale (part 4 of Art. 159 of the Russian Criminal Code) was initiated against him, he was arrested in absentia. The former banker is currently internationally wanted. As he told the publication, the sale of land at a price below the market is nothing but liquidation of “expensive assets of the state-destroyed business by auctioning them off for a pittance.”

New owner of the plot Ivan Palikhata said that the auction took place within the framework of bankruptcy proceedings, so it will not be affected by the financial burden of plots, and the proceeds of the pledge will go to pay off creditors’ claims.

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