The court recognized Telman Ismailov bankrupt

The Arbitration Court of the Moscow Region recognized the former owner of the Cherkizovsky market, the founder of the AST group Telman Ismailov. As Interfax reports , competitive production has been opened against the debtor. The decision was made when considering the application of the creditor Boris Zubkov, adopted for production at the end of November.

Meanwhile, on November 19, Ismailov himself received a statement by the declaration of bankrupt. The court left him without movement until December 26 due to the wrong design.

From September 2012 to February 2014, the Bank of Moscow granted three loans totaling more than 230 million dollars of Rusline 2000 LLC and the Dutch Tropicano Finance BV, both were directly related to the AST group, and its beneficiary Ismailov gave personal guarantees on the return on the contracts established by the contracts.

According to loans issued, the bank both interest and the main debt were not completely paid. As a result, as of October 1, 2015, Ismailov’s total debt as a guarantor amounted to about $ 286 million with all penalties and expired interest. Since Ismailov did not fulfill monetary obligations for a long time, the lawyers of the Bank of Moscow concluded that he was insolvent, asking the arbitration to recognize the former owner of the Cherkizov market as insolvent and "introduce procedures for restructuring the debts of a citizen."

On October 6, the Moscow Arbitration Court granted the lawsuit of the Moscow Bank to recover from the KBF AST LLC belonging to Ismailov as a guarantor for a loan of $ 213.3 million. In November, the Bank of Moscow filed an application for bankruptcy of this company.

The Prague-Ast group, founded by Ismailov and occupied by the restaurant business, includes the Moscow restaurant "Prague". The AST group also belongs to 100 percent of the shares at the Business Club LLC Tropikano and Rusline 2000 LLC.