Real estate

One of the large general contractors, Mosinzhstroy (MIS), which was responsible for the reconstruction of the Kremlin facilities and the construction of the Luzhniki Stadium, announced liquidation. The beneficiary of the company, the former owner of the scandalous Neftyanoy Bank, Igor Linshits, was unable to pay off the developer’s debts, which exceeded 20 billion rubles.

MIS officially announced its liquidation yesterday. The main reason for bankruptcy in the company is the difficult financial situation caused by a decrease in the share of city orders. At the end of 2009, MIS's revenue amounted to 15.5 billion rubles, net profit - 37.1 million rubles. In 2013, revenue decreased to 5.6 billion rubles, and net loss to 553.7 million rubles. At the same time, the total amount of debt is estimated at 20.5 billion rubles, 7.5 billion rubles. of which - outstanding loans (main creditors VTB and Khanty-Mansiysk Bank), 13 billion rubles - claims of the Moscow mayor's office under previously concluded contracts.

The remaining assets on the balance sheet of MIS are the Bronnaya Plaza business center (8.5 thousand sq. m), a building on Malaya Bronnaya Street (7.8 thousand sq. m) and several development projects, including a residential complex " Krasnogorskie Klyuchi" (200 thousand sq. m.) - will be sold to pay off debts, the company reported. Most of the properties are already mortgaged.

MIS was created in 1968, 60% of the portfolio traditionally fell on city orders. In particular, the contractor was involved in the construction of the Luzhniki sports complex, the reconstruction of Kremlin facilities, the Arbat pedestrian street and the restoration of the Manege Central Exhibition Hall. The latest city contract for MIS was the construction of a transport interchange at the intersection of Novoyasenevsky Prospekt and Profsoyuznaya Street worth 4.7 billion rubles. In 2013, the amount of all concluded contracts amounted to 521.7 million rubles. Although in 2012, according to estimates, the entire order portfolio was valued at 20 billion rubles.

The main owner of MIS is MIS Holding Ltd, where since 2004 the former owner of Neftyanoy Bank Igor Linshits has been the beneficiary. In 2006, the Prosecutor General's Office accused him of laundering 12.5 billion rubles, and MIS shares were seized. In 2009, the package passed to Valery Abramson's Infrastructure CJSC, but by 2010 Igor Linshits returned the company to himself. In 2012, Ilya Karpov, co-owner of the OGO agricultural holding, became his business partner. But now he does not take part in the management of MIS, the company clarifies.

Alexandra Mertsalova

Igor Linshits leaves the construction site