Summa

Tag: Summa

Bankruptcy petition against Summa Group owner set for December

The Moscow Commercial Court will hear a bankruptcy application filed by GlobalElectroService against one of the Summa Group owners Ziyavuddin Magomedov, who stands charged with large-scale embezzlement, on December 1.

10:17 11.10.2021

Summa Group owners charged with embezzlement to go on trial

Moscow’s Meshchansky District Court will proceed with an embezzlement case against owners of Summa Group Ziyavudin Magomedov and his brother Magomed on March 19.

13:28 16.03.2021

Assets worth nearly $600 mln seized from Magomedov brothers as part of Summa Group case

Assets worth over 45 billion rubles (about $600 million) belonging to Summa Group owner Ziyavudin Magomedov and his brother Magomed Magomedov have been seized during investigation into a case against them.

16:37 16.11.2020

Magomedov brothers’ detention in embezzlement case extended till winter

The Moscow City Court has extended detention of Summa Group owner Ziyavudin Magomedov and his brother Magomed in a case over embezzlement of 2.5 billion rubles (over $33 million at the current exchange rate) until November 30.

10:53 26.08.2020

Magomedov brothers to stay detained till late June in embezzlement case

The Moscow City Court on Friday extended detention of the Magomedov brothers involved in a case over embezzlement of 2.5 billion rubles (about $40 million) and criminal group creation for three months.

18:13 27.03.2020

Asset sale procedure against Summa subsidiary extended for six months

The Moscow Commercial Court has extended an asset sale procedure against Global Electro Service, a subsidiary of Summa Group, for six months.

13:06 20.03.2020

Summa Group subsidiary owes over $4 mln to Russian heat energy company

The Moscow Commercial Court has granted a claim filed by the largest regional power generating company in Russia Mosenergo seeking to add the debt of Global Electro Service, a subsidiary of Summa Group, worth over 276 million rubles (over $4 million) to the creditors’ list.

10:56 10.09.2019

British firm seeks bankruptcy of Yakut subsidiary of Russia’s Summa Group

The Commercial Court of Russia’s Sakha Republic will hear a petition for bankruptcy of the Yakut Fuel and Energy Company, a subsidiary of troubled Summa Group, on September 17.

11:24 20.08.2019

Moscow Court upholds Magomedov brothers’ detention in $40 mln embezzlement case

The Moscow City Court on Tuesday upheld detention of the Magomedov brothers involved in a case over embezzlement of 2.5 billion rubles (about $40 million) and criminal group creation until September 30.

13:40 30.07.2019

Magomedov brothers’ detention in $40 mln embezzlement case extended for 3 more months

The Moscow City Court on Wednesday extended detention of the Magomedov brothers involved in a case over embezzlement of 2.5 billion rubles (about $40 million) and criminal group creation until September 30.

11:52 26.06.2019

Supervision procedure against Yakut subsidiary of Summa Group upheld

The Fourth Commercial Court of Appeals has upheld the introduction of a monitoring procedure against the Yakut Fuel and Energy Company, a subsidiary of troubled Summa Group.

12:53 14.05.2019

Cypriot company demands over $75 million from Summa Group subsidiary

The Cypriot firm Bronstel Consultants Limited has filed a 4.9-billion-ruble claim (over $75 million) against Global Electro Service, a subsidiary of Summa Group, with the Moscow Commercial Court.

17:41 29.03.2019

Russian company demands $155 mln from Summa Group's subsidiary

A-Property firm has lodged two applications demanding to add the Yakut Fuel and Energy Company’s debt worth 9.9 billion rubles ($155 million) to the list of creditors’ claims.

11:20 22.03.2019

Appeals court confirms Summa subsidiary’s $128 mln debt to VTB bank

The Ninth Commercial Court of Appeals has upheld a lower court’s ruling granting a debt claim in excess of 8 billion rubles (over $128 million) lodged by VTB bank against Global Electro Service, a subsidiary of Summa Group.

11:28 21.03.2019

Russia’s Sviaz-Bank demands $8 million from Yakut subsidiary of Summa Group

Russia’s Sviaz-Bank has filed an application seeking to include a 534-million-ruble (over $8 million) debt of the Yakut Fuel and Energy Company, a subsidiary of Summa Group, to the financial organization in the creditors’ list.

17:19 14.03.2019

Two bankruptcy claims against Yakut subsidiary of Summa Group to be heard in April

The Commercial Court of Russia’s Sakha Republic has scheduled hearing of two bankruptcy applications against the Yakut Fuel and Energy Company, a subsidiary of Summa Group, for April 17.

11:59 13.03.2019

Summa Group subsidiary moves to appeal 8 bln debt to VTB bank

Global Electro Service, a subsidiary of Summa Group, has appealed a decision of the Moscow Commercial Court granting a debt claim in excess of 8 billion rubles (over $128 million) lodged by the VTB bank.

11:42 25.02.2019

Summa subsidiary’s $260 mln claim against Magomedov brothers set for March 25

The Moscow Commercial Court has set March 25 as a date for hearing a claim filed by a temporary manager of Summa Group’s subsidiary GlobalElectroService seeking to recover 17.1 billion rubles (about $260 million) from the Group owner Ziyavudin Magomedov, his brother Magomed and 14 other defendants.

10:35 08.02.2019

Summa Group subsidiary ordered to pay Yakut company $6 million

The Moscow Commercial Court has granted a claim lodged by the Yakut Fuel and Energy Company, a subsidiary of Summa Group, demanding to recover over 366 million rubles (about $6 million) from Transengineering company.

10:45 06.02.2019

Summa Group subsidiary’s debt acknowledged by court

The Moscow Commercial Court has granted two claims lodged by VTB bank seeking to add an 8.5-billion-ruble debt (over $128 million) of Global Electro Service, a subsidiary of Summa Group, into creditors' list.

10:54 23.01.2019