Telman Ismailov could not fend off creditors

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-