MOSCOW, August 25 (RIA Novosti) - One of...
Kommersant said the suit against Arbat & Co, which runs the chain of Arbat Prestige stores, was lodged by Capital Estate, which is the cosmetics holding's subsidiary, on Friday. The move could be preparation for voluntary bankruptcy proceedings.
Claims by creditors against the retailer have been snowballing since its key shareholder and General Director Vladimir Nekrasov was arrested on suspicion of failing to pay 50 million rubles ($2 million) in taxes in January, the paper said.
Creditors had filed 19 debt claims with Moscow's arbitration court for a total of 950 million rubles (about $39 million), the paper said.
"Capital Estate was a guarantor of Arbat & Co's [2006] bonded loan, which it has repaid, and has the right to call in the sum from the company. Capital Estate is now trying to receive court confirmation of the debt," Nekrasov's lawyer Alexander Dobrovinsky told the paper.