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Founder of Carlo Pazolini owes $10.4 million to offshore company

12:23 25/01/2018

MOSCOW, January 25 (RAPSI) – The Moscow Commercial Court has granted a motion of NPL Invest Ltd, a company registered in British Virgin Islands, to include 586 million rubles (about $10.4 million) owed by founder of Carlo Pazolini shoe retailer Ilya Reznik, into creditors’ demands list, the court ruling reads on Thursday.

A similar claim filed by Croft Assets Corp is to be reviewed on February 5.

On December 5, the court declared Reznik bankrupt.

On April 6, 2017, the court initiated the procedure of debt restructure against Reznik on ATB Bank’s request. On April 14, Alfa Bank filed an application seeking to include a 1.9-billion-ruble debt ($33.6 million) on the list. On May 31, several Russian companies and banks filed six applications with the Moscow Commercial Court asking to include 5.5 billion rubles (about $97.1 million) owed by Reznik on the list of creditors' claims.

Moreover, in late July, the court collected $11 million and €8.4 million in debt jointly from Carlo Pazolini Trade Ltd., Carlo Pazolini (Switzerland) SA., and Carlo Pazolini Participations in favor of NPL.

Carlo Pazolini brand was created in 1991. There are more than 180 company stores on Russia, Italy, China, Greece, Czech Republic, Ukraine, Azerbaijan and Moldova, according to the retailer’s website.


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Founder of Carlo Pazolini owes $10.4 million to offshore company

12:23 25/01/2018 The Moscow Commercial Court has granted a motion of NPL Invest Ltd, a company registered in British Virgin Islands, to include 586 million rubles (about $10.4 million) owed by founder of Carlo Pazolini shoe retailer Ilya Reznik, into creditors’ demands list.
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