MOSCOW, January 31 (RAPSI) – The Commercial Court of Kaluga Region as part of a bankruptcy procedure has extended sale of assets of ex-owner and founder of Svyaznoy retailer Maxim Nogotkov for 3 months, according to court records.

A motion to extend the procedure has been filed by the debtor’s bankruptcy receiver Victor Yeltsov.

On July 19, 2018, Nogotkov was declared bankrupt upon an application lodged by the Cypriot firm Strafor Commercial Ltd.

In November 2018, the Commercial Court of Kaluga Region granted claims filed by companies Lonestar Enterprises Ltd (British Virgin Islands) and Svyaznoy Logistics seeking to include an 11-billion-ruble debt ($174 million at the current exchange rate) of Nogotkov into the list of creditors.

Earlier, the court added Nogotkov’s 1.8–billion- ruble debt (about $28.5 million) to Lonestar Enterprises Ltd to the list of creditors' claims.