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Bankruptcy procedure against Carlo Pazolini founder extended

15:01 31/05/2019

MOSCOW, May 31 (RAPSI) – The Moscow Commercial Court has extended asset disposal of the founder of Carlo Pazolini shoe retailer Ilya Reznik involved in a bankruptcy procedure for six months, according to court records.

In January, the Moscow Commercial Court granted a motion of NPL Invest Ltd, a company registered in British Virgin Islands, to include 586 million rubles (about $10.4 million) owed by Reznik into creditors’ demands list.

On December 5, 2018, the court declared Reznik bankrupt.

On April 6, 2017, the court initiated the procedure of debt restructure against Reznik on ATB Bank’s request. On April 14, Alfa Bank filed an application seeking to include a 1.9-billion-ruble debt ($33.6 million) on the list. On May 31, several Russian companies and banks filed six applications with the Moscow Commercial Court asking to include 5.5 billion rubles (about $97.1 million) owed by Reznik on the list of creditors' claims.

Moreover, in late July, the court collected $11 million and €8.4 million in debt jointly from Carlo Pazolini Trade Ltd., Carlo Pazolini (Switzerland) SA., and Carlo Pazolini Participations in favor of NPL.

Carlo Pazolini brand was created in 1991. There are more than 180 company stores on Russia, Italy, China, Greece, Czech Republic, Ukraine, Azerbaijan and Moldova, according to the retailer’s website.

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Bankruptcy procedure against Carlo Pazolini founder extended

15:01 31/05/2019 The Moscow Commercial Court has extended asset disposal of the founder of Carlo Pazolini shoe retailer Ilya Reznik involved in a bankruptcy procedure for six months.
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