Bankruptcy of River Tower Developer Company in the comments of BGP Litigation Counsel Sergey Lisin for Ъ

The Moscow Arbitration Court has recognized River Tower Developer Company controlled by Maxim Blazhko, one of the co-founders of Donstroy, a bankrupt. It follows from the operative part of the Court’s decision.

Mostly it has no chance of success to appeal against a bankruptcy decision. “Formal circumstances for beginning bankruptcy proceedings are an existing outstanding indebtedness exceeding 300 thousand roubles and a creditors’ meeting decision on selecting such procedure”, says  BGP Litigation Counsel Sergey Lisin.  The bankruptcy of River Tower will not influence the course of the proceedings in respect of the personal sureties of Maxim Blazhko.

The full text of the article “The Ground Crumbles Under River Tower’s Feet” (Kommersant newspaper issue No. 130 dated July 20, 2017)