Date of Telman Ismailov’s assets sale specified

Date of Telman Ismailov’s assets sale specified
Telman Ismailov

The auction will be held on December 8, 2017.⁠

The date of bidding for the sale of the property of Rusline 2000 LLC, which belonged to the structures of Telman Ismailov’s AST group, is specified. According to the firm's announcement on the site of the Unified Federal Register of Bankruptcy Information, the sale of the company's property will be held on December 8.

The most expensive asset is the shopping center on Izmaylovskoye Highway. The shopping center together with the land was estimated at 1.83 billion rubles ($30.8m). Together with the shopping complex, furniture, computers, air conditioning, household appliances and other property are sold. So, the initial value of the shopping center at the auction will be equal to 2 billion rubles ($33.7m).

Despite the significant cost of the trading complex, proceeds for the sale will not cover the debts that Rusline 2000 has. At the moment, the company is required to pay 17.2 billion rubles ($290m).

VTB Bank is a secured creditor of the debtor. Under the law, the bank will receive 80% of the sale of the property. The rest of the money will be used to pay off debts to other creditors, as well as to repay the costs of the sale procedure itself.

Recall that the former owner of the Cherkizovsky market was declared bankrupt in December 2015 by a decision of the Arbitrazh Court of the Moscow region. He became the first bankrupt under the new law on bankruptcy of citizens from the list of Forbes members. In March 2017, the court confirmed its decision.

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