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Application for MIEL subsidiary's bankruptcy to be considered in November

13:40 18/10/2011

MOSCOW, October 18 - RAPSI, Natalia Belova. A commercial court postponed on Tuesday until November 29 its hearing of Rosbank's application for Golden Mile's (Zolotaya Milya) bankruptcy, the Russian Legal Informatuion agency (RAPSI) reports from the courtroom.

Golden Mile is a MIEL Holding subsidiary.

The application was filed on September 2 concurrently with Rosbank's similar applications regarding four more MIEL companies - Barviha-Village, MIEL Real Estate, MIEL Suburban Real Estate and MIEL 3C.

Rosbank sought $20 million in debt under a loan issued to Barviha-Village in May 2007, which was set to mature in May. The other four companies acted as guarantors to the loan.

After Barviha-Village defaulted on the scheduled principal and interest payments, Rosbank sought the early repayment of the loan in full.

The MIEL Holding was founded in October 1990. In 1993, it was transformed into a real estate agency. MIEL is engaged in real estate, investment, and development, and consists of more than 10 companies.

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Application for MIEL subsidiary's bankruptcy to be considered in November

13:40 18/10/2011 A commercial court postponed on Tuesday until November 29 its hearing of Rosbank's application for Golden Mile's (Zolotaya Milya) bankruptcy.
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