Moscow, April 19 – RAPSI. The St. Petersburg and Leningrad Regional Commercial Court has introduced a supervisory procedure against RTM Izmailovsky, a subsidiary of RTM development company, the court told the Russian Legal Information Agency (RAPSI).

The claims by Sberbank, which submitted a bankruptcy application and demands 250.42 million rubles, have been included in the third priority creditor’s registry.

Earlier, Sberbank filed a lawsuit against RTM Izmailovsky in the court demanding a loan recovery worth $9 million.

The bank demands that the mortgaged property, namely the RTM Izmailovsky trade and exhibition center in St. Petersburg and a 0.36-hectare land plot, be put up for sale by court action. Sberbank’s application on declaring the RTM development company bankrupt is under consideration at the Moscow Commercial Court.

RTM development company was established in 2006 and specializes in developing and managing residential and commercial real estate in Russia’s major cities.

The company’s shareholders are KIT Finance, with 16.94 percent, Finam, with 12.87 percent, JPMorgan, with 10.71 percent, Eduard Vyrypayev, a company founder, with 4.96 percent, and a number of Cypriot offshore companies.