Commercial court dismisses once richest Russian MP’s move to drop bankruptcy case
MOSCOW, May 24 (RAPSI) – The Archangelsk Region Commercial Court in Russia has dismissed a petition of an administrator managing assets of Andrey Palkin, an MP from the United Russia political party, asking to discontinue bankruptcy proceedings against the deputy, a court decision reads on Thursday.
According to the administrator, the move should be dropped since Palkin’s solvency has been restored.
Nevertheless, the court said no evidence was filed to prove all creditors’ claims were satisfied.
Last March, the court ordered a restructuring of the MP’s debts in bankruptcy proceedings initiated by the tax authorities seeking to put about 159 million rubles (approximately $2.6 million at the current exchange rate) on the creditors’ list. In June of 2017, the court satisfied the claim in part, confirming the debt in the amount of about 147 million rubles (nearly $2.4 million). Later about 25.4 million rubles ($414,000) were additionally put on the MP’s debt list.
This January a court of appeals upheld a tax authorities’ move for interim relief confirming the attachment of 147 property items owned by Palkin, among them auto-loaders, bulldozers, excavators, and so on.
Earlier, Palkin had been called by press “the richest MP” as his declared income for 2015 amounted to 1.5 billion rubles (about $25.5 million), the court now says his debts make about 664 million rubles (about $10.8 million).