The season for checkers has arrived.
In the heart of Moscow, the Four Seasons Hotel houses a significant debt saga unfolding around OAO "Dekmos". As of 2022, the company owes €125 million, or 9.4 billion rubles, to VTB bank, according to available records.
The connection of OAO "Dekmos" to former banker Alexei Khotin remains disputed, but the company is currently facing difficulties servicing its loan. This is due, in part, to the seizure and transfer of its apartments to the state-owned "Property Management" company, leaving the company's future uncertain.
The ownership of OAO "Dekmos" has not been publicly disclosed, but the company is known to belong to the Cypriot Elletery Holding Ltd. As of 2022, the company had 88 luxury apartments and 180 parking spaces within the Four Seasons Hotel Moscow building.
Legal proceedings between VTB and "Dekmos" are ongoing, as shown in the arbitration case records. VTB bank has filed a lawsuit against OAO "Dekmos", demanding that its assets be seized and sold at auction. The encumbrance in the form of a mortgage on the seized assets does not disappear, meaning that if they are sold, VTB may be able to satisfy its claims.
The tax authority has also been involved in the proceedings, as OAO "Dekmos" is not fulfilling its obligations. The Federal Tax Service (FNS) could initiate bankruptcy proceedings for "Dekmos" due to unpaid taxes, including property tax and other taxes accumulated during periods when the company did not own assets.
Stanislav Akhmedzyanov, a prominent figure, thinks that the bankruptcy procedure is likely just a formality for liquidating the company and removing it from the register of legal entities. Oleg Permyakov, partner at Rustam Kurmaev and Partners, shares this sentiment, believing it is highly likely that OAO "Dekmos" will be declared bankrupt following an FNS lawsuit.
The tax authorities have been increasingly active in initiating bankruptcy proceedings for companies, conducting more tax inspections and reassessing taxes since 2025. If bankruptcy proceedings are initiated against OAO "Dekmos", the tax authority will be included in the third category of creditors, making the likelihood of the tax debt being fully paid off small.
Partner of NF Group Marina Malakhatko estimates the property that previously belonged to OAO "Dekmos" at 20 billion rubles. However, the amount of claims in the petition is not specified.
The FNS of Russia's Kirov Region has already filed a petition with the Moscow Arbitration Court to declare OAO "Dekmos" bankrupt. The tax authorities have also filed bankruptcy lawsuits against the balance holder of the "White Square" business center and LLC "Coffee House", part of the "Shokoladnitsa" group.
This complex debt saga continues to unfold, with the future of OAO "Dekmos" hanging in the balance. The outcome of the ongoing legal proceedings will determine the fate of the company and its valuable assets.
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