RussianLegal Got a Freezing Order over a RUB 400 mln Asset in Bankruptcy Proceedings against Vneshprombank’s Former Co-Owner Mr Bedzhamov

As part of the bankruptcy proceedings against Georgy Bedzhamov, RussianLegal acted on an instruction of the insolvency practitioner to file a statement of claim challenging a transaction whereunder the shares in a Cypriot company under his control were sold. As a result of that transaction, said company lost its ownership control over a building worth over RUB 400,000,000 in Moscow’s downtown.

For the purpose of breaking Mr Bedzhamov’s ties with the property even further, an unknown Russian company initiated arbitration proceedings against the Cypriot owner, which proceedings resulted in that company acquiring the ownership of the property and applying to a court for a writ of execution to amend the Unified State Register of Real Properties.

In order to prevent the property from being withdrawn from the bankruptcy estate, we applied for injunctive relief in the bankruptcy proceedings and engaged in the matter of the writ of execution. As a result of our efforts, the court imposed an attachment on the building and prohibited any registration actions with it.