Glorax Group filed for bankruptcy the company Mosavtodor and Partners, which it had previously sold.
The last refuge of the Russian businessman is telling stories about mythical Chinese investors.
Glorax Development (part of the Glorax Group) has started construction of the Golden City LCD business class in the alluvial territories of the Vasilievsky Island in St. Petersburg. In order to prevent the buyers from suspecting anything, the reputation of the company is being actively promoted by the media.
Glorax Group, which belongs to scandalous businessman Andrey Birzhin, intends to sell its near Moscow road-building assets, and to invest the money in the purchase of sites for the construction of housing in Moscow. The only problem is that the housing market in the capital is on the verge of collapse.