Clover Group of Alexander Popov stiffed Czech creditors

Bank of Prague failed to challenge the one-time sale of apartments by the developer Clover House 111.
PT rejected the claim of the company "Komercni Bank" Arbitration Court (Prague), who demanded to annul the contract for the sale of the company "Megapolis" 111 apartments other company "Scherbakovsky park."

As already reported, "BUSINESS Online» newspaper, the dispute related to the construction of Clover House - 26-storey residential building in the triangular Shcherbakovskaya lane 7, which was built on the site of the confectionery "Dawn" factory in the center of Kazan. The problems arose from the builder because of the claims of the Czech Komercni Bank, which is part of a group of companies of the French Societe Generale - one of the largest banking conglomerates in the world. In 2011, the Czech bank granted a loan of 30 mln. Euros for the construction of a residential complex, which after the fall of the ruble, apparently, has become unbearable. According to the experts "Business Online", the bank in the contested transaction suspected withdrawal of assets from the "Megapolis".

In addition, before the Court under the same case he decided to seize the contested contract sold property. But the Court of Cassation subsequently released from arrest 14 apartments, twooffice and one parking space. The fate of the remaining prisoners of apartments in the LCD depends on the outcome of the main dispute since a high probability that the bank will challenge Czech RT Arbitration Court decision in higher courts.