Capital Tour owners loose apartment to their creditors
Inna and Igor Beltyukov will have to pay their creditors with their own flat. The Bank of development of technologies and Russlavbank won the case against the married couple, which owes them over $3,6 mln, in court. According to its decision, their two-storey apartment with a total area of over 264 square meters in Moscow’s House in Sokolniki luxury condominium will be sold at a public auction.
Capital Tour suspended its operations in mid-November 2010. Over eighty three hundred people were not able to go on their trips, even though they’d already paid for them. Moreover, the company failed to settle the accounts with its foreign partners, so around two more thousand of its clients experienced problems when they were abroad. On December 30th two of the company’s structures, LLC Capital Tour and LLC Capital Tour Company, filed for bankruptcy at the Moscow arbitration court, reaching a combined dept of 2,69 billion roubles. Currently both structures are under supervision and could be declared bankrupt as soon as in November 2011. Capital Tour’s financial guarantor – The Innogarant insurance company – still hasn’t started paying the affected clients back. LLC Capital Tour, which used to seal most of the deals, is insured for 100 million roubles. Innogarant claims it’s already received nearly twenty six hundred documents from over six thousand clients on the total sum of 268,6 million roubles. The insurance company says it won’t start paying these people back until all of the affected clients submit their requests. As a result, only those who’ve challenged Innogarant in court, may expect any compensation at this point. The company’s press secretary Aleksandr Kremer has confirmed some compensation ordered by the court has already been paid, although he failed to provide any figures.
Now Capital Tour’s creditor-banks are trying to get the company’s founders – Inna and Igor Belyukov – to pay their dept. The tour operator took loans from nine main credit organisations, including: Master-bank, Russlavbank, The Moscow credit bank, MFK and more. In September 2010 the company’s total combined dept to all of its creditors reached $42 mln.
The Bank of development of technologies and Russlavbank became the first creditors to get the Beltyukovs, who were the official guarantees of their loans, to pay up. Last May the Meshchansky district court in Moscow announced LLC Capital Tour along with Inna and Igor Beltyukov were to pay $1,373 mln to the Bank of development of technologies and another $2,229 mln to Russlavbank. In late August the married couple filed an appeal to the Moscow city court, but it sustained the ruling. An official statement published on the court’s web site says Beltyukovs’ two-storey apartment with a total area of 264,3 square metres (first floor – 144,5 sq m, second floor – 119, sq m) located in the House in Sokolniki, a condominium built by CJSC DonStroy Invest on Rusakovskaya street in Moscow, is to be sold at a public auction. The flat’s starting price has been put at around 50,155 mln roubles.
The apartment’s starting price set by the court (190,1 thousand roubles or 6,3 thousand U.S. dollars per square meter) corresponds with what it costs on the market and shouldn’t increase significantly during the auction – according to Blackwood’s managing partner Konstantin Kovalyov. He says: “it’s quite possible to find a buyer in this case, but we shouldn’t expect any frenzies”.
Another bank – Globeks – has also won a court case against the Beltyukovs. As it says on its website, the Moscow city court has sustained a decision made by the Preobrazhensky district court in favor of the bank’s suit against the couple. According to its press service, Globeks demanded the full return of the €3 million loan it gave to the couple in May 2010 for a half a year. Last May the same Preobrazhensky court also backed another bank’s suit against the Beltyukovs – MFK (dept estimated to be over 39 mln roubles). But its press service says the Moscow city court is yet to look into the couple’s appeal in this particular case. However, the court has recently overruled the Dorogomilovsky court’s decision on yet another lawsuit against Capital Tour – by RIA-bank, sending the case back for reconsideration.