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Court to hear Inteco-Sochi bankruptcy case on November 22

16:56 16/11/2011

MOSCOW, November 16 - RAPSI, Dmitry Shchitov. The commercial court has declared a recess until November 22 in its hearing of the tax authority's bankruptcy application for Inteco-Sochi, the court told the Russian Legal Information agency (RAPSI) on Wednesday.

According to media, Inteco-Sochi is owned by Viktor Baturin. He is the brother of Yelena Baturina, the wife of former Moscow Mayor Yuri Luzhkov, and Russia's richest

Victor BaturinVictor Baturin

businesswoman.

The court has not disclosed the reason for the recess.

The court suspended the bankruptcy proceedings on March 30.

Baturina and her elder brother established Inteco in 1991 on a parity basis. Their relations went sour in 2005 when the company gained substantial profits.

The division of assets was accompanied by litigation. Under the second settlement agreement dated February 2007, Yelena held 99 percent of Inteco. One percent remained with the company. Viktor received unencumbered assets worth no less than $500 million.

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Court to hear Inteco-Sochi bankruptcy case on November 22

16:56 16/11/2011 The commercial court has declared a recess until November 22 in its hearing of the tax authority's bankruptcy application for Inteco-Sochi.
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