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Bankruptcy procedure against man behind Crimean blockade extended

12:33 23/12/2020

MOSCOW, December 23 (RAPSI) – The Moscow Commercial Court has extended an asset sale procedure against Lenur Islyamov, one of the initiators of food blockade of the peninsula and ex-board chair of Just Bank LLC, for six months, according to court records. 

The Moscow Commercial Court has granted the Deposit Insurance Agency’s (DIA) petition to seize 1.7 billion-ruble ($22 million) assets of Lenur Islyamov, one of the initiators of food blockade of Crimea and ex-board chair of Just Bank" LLC. , according to court records.

The motion also included a demand to attach assest of six forer top managers of the bank.

In July, the court extended an asset sale procedure against Islyamov for six months.

In May 2017, the court found the deal between bank Eurocredit and Islyamov to be unlawful and ruled to include a house in the Moscow Region into the list of property restructured by bankruptcy procedure. In December 2016, the court held that Islyamov owes Eurocredit Bank 234 million rubles (about $4 million at the current exchange rate).

Islyamov was declared bankrupt on July 18, 2016. On March 16 of the same year, the court introduced a procedure for restructuring of Islyamov’s debt upon the application of Sberbank of Russia. According to the bank’s representative, the businessman’s debt under two loans is estimated at 1.1 billion rubles ($17.4 million). Islyamov was a loan guarantor for the Queen Group Company that received these credits. The company later has been declared bankrupt.

Criminal case against Islyamov

In December, the Supreme Court of Crimea sentenced Islyamov to 19 years in prison in absentia for sabotage committed by an organized group and resulted in severe pecuniary damage, public calls for violation of Russia’s territorial integrity through mass media.

It was found that in November 2015 Islyamov drafted a plan on the destruction of overhead power transmission lines in the Ukrainian Kherson Region transporting electrical power to Crimea and Sevastopol. The convict and his accomplices actively recruited new members to their group. He also repeatedly called for violation of Russia’s territorial integrity using mass media, according to the Russian Prosecutor General’s Office.

The Crimean investigators launched probe into Islyamov and in November 2015 raided the offices of companies he controlled on the peninsula.

Islyamov owns TV company ATR, transportation company SimCityTrans, and retail chain ICom selling Apple products.

In May 2014, Islyamov, who at that time was Deputy Chairman of the Crimean Council of Ministers responsible for repatriates, water provision and utilities, was dismissed as failing to cope with these responsibilities.


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Bankruptcy procedure against man behind Crimean blockade extended

12:33 23/12/2020 The Moscow Commercial Court has extended an asset sale procedure against Lenur Islyamov, one of the initiators of food blockade of the peninsula and ex-board chair of Just Bank LLC, for six months.
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