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Sberbank’s $11 mln lawsuit against Duty Free operator to be reviewed in January

17:06 14/12/2016

MOSCOW, December 14 (RAPSI) – The Moscow Commercial Court has set preliminary hearings in the a lawsuit filed by Sberbank seeking the recovery of 727 million rubles ($11 million) from duty free operator Aerofirst, RAPSI learned in the courtroom on Wednesday.

The court has earlier registered Sberbank’s lawsuit over the recovery of 1.8 billion rubles ($28 million). The court has also dismissed Sberbank’s motion to accelerate proceedings in its bankruptcy claim against Aerofirst.

In October the court has postponed hearings in bankruptcy claim against Aerofirst put forward by Friso Trading Inc. company, registered at British Virginia Islands.

On May 5, the Moscow Commercial Court complied with the demands put forward by the Bank VTB in a lawsuit against Aerofirst. Bank petitioned to recover the arrears relating to a credit agreement made in October of 2014. According to a bank representative, Aerofirst ceased to satisfy its obligations under the agreement in November of 2015 as concerned both the principal and interests, what made the bank to lodge its claim.

This January, Bank VTB lodged claims demanding company Arial and its 100% subsidiary Aerofirst to repay the debt estimated to be at about $40 million.

As it has been reported earlier, Aerofirst operates duty free shops under “Moscow Duty Free” brand since its first shop was established in Sheremetyevo in 1988, what makes it the oldest duty free operator in Russia. The company web site shows that it has ten shops in Sheremetyevo F terminal and 13 shops in Domodedovo airport.

In early February it was reported that Sberbank intended to initiate proceedings to declare Aerofirst bankrupt.

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Sberbank’s $11 mln lawsuit against Duty Free operator to be reviewed in January

17:06 14/12/2016 The Moscow Commercial Court has set preliminary hearings in the a lawsuit filed by Sberbank seeking the recovery of 727 million rubles ($11 million) from duty free operator Aerofirst.
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