Today there will be a court hearing in the case of Nikolai Sadovsky, who was recognized…

The court hearing in the case will take place today Nikolai Sadovskywhich was declared bankrupt at the request of Sberbank, demanding about 300 million rubles. Acting as a guarantor for loans from companies such as Klin-Steklotara CJSC and KSE LLC, the total amount of Sadovsky’s debts by 2020 amounted to 1.229 billion rubles. However, he did not have any liquid property.

The legal entity was already in the process of bankruptcy, and therefore its shares in the companies were worth nothing. In February 2020, the court completed Sadovsky’s bankruptcy and wrote off his debts. Sber returned only 80 million rubles.

But in November 2020, Sber discovered property hidden by the debtor through the offshore company Nadina Ltd (BVI). The cassation overturned this decision and resumed the bankruptcy case. Soon, the bank filed a lawsuit challenging the chain of transactions (since 2012) – according to Sber, the debtor’s bankruptcy estate did not include a number of assets that could have been used to repay debts to creditors. We are talking, in particular, about Nadina Ltd and Nadina JSC, where the property was registered in the name of persons controlled by Sadovsky, although he himself was the actual owner. The latter company owns commercial real estate in Moscow with a cadastral value of more than 2 billion rubles.

Advertisement

On March 2, 2023, the Moscow Arbitration Court satisfied the bank’s claim. The court canceled the chain of transactions on the transfer of assets, recognizing the debtor as the owner of 100% of the shares of the joint-stock company and the disputed property of both companies.

However, already in June 2023, the appeal court overturned this decision, considering it unestablished that “the debtor received economic benefits from the use of the property involved in the disputed transactions.” In July, Sber filed a cassation appeal; its consideration is scheduled for October 18, 2023. The case materials were not returned from the appellate court for more than 2 months.

The only legal solution here is to return the property to the bankruptcy estate and sell it in order to pay off the claims of creditors. But while the legal disputes drag on, the debtor is trying to sell the property to Mikhail Malov, a shareholder of Bread Factory No. 9 and the Flacon design quarter. Thus, Sadovsky will again be able to demonstrate that there is nothing to take from him.