The Moscow Arbitration Court dismissed the petition of the Bank of Moscow for the arrest of the property at $213 million, owned by AST Telman Ismailov. The reason for the suit is the desire of the bank to recover from the oligarch, having Azerbaijani origin, the debt of $ 197.3 million, RBC reports.
According to the newspaper "Kommersant", the businessman tried settle without court the issue with the repayment of the loan problem by selling his real estate in the capital of Russia (according to some sources, it was the restaurant "Prague".) But the deal fell through, and in late July, the Bank of Moscow appealed to the court.
According to the publication, other creditors also have claims to Ismailov. For more than a year ago, a group "Mangazeya" by Sergei Yanchukova through a court in Cyprus frozen the assets of the Ismailov and sued for $100 million. However, "Mangazeya" failed to obtain effective control over the assets of billionaire.
In late June, Ismayilov was close to losing Mardan Palace in Turkey.
Due to the multi-million dollar debt Turkish bailiffs were going to put the hotel up for sale, but at the last moment Ismailov was able to negotiate with the Turkish bank Xalk bankasi debt restructuring. Businessman has pledged to pay $100 million over the next four years. -02D-
Economics
-
Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
-
Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
-
Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
Leave a review