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Ulmart subsidiaries ordered to pay $16 mln to Russia’s Sberbank

16:59 21/06/2018

MOSCOW, June 21 (RAPSI, Nikita Shiryayev) – The Thirteenth Commercial Court of Appeals has recovered over 1 billion rubles (about $16 million) from three subsidiaries of Russian e-commerce giant Ulmart in favor of Sberbank, according to court records.

The court thus granted the bank’s claim to collect debt under a loan contract.

Earlier, four bankrupt claims were lodged against Ulmart. In particular, Bank St. Petersburg and Bank Uralsib demand to declare the retailer bankrupt. The company’s debt to Uralsib is estimated at around 800 million rubles.

Ulmart co-owner Dmitry Kostygin stands charged with large-scale credit fraud and is currently under house arrest.

According to case papers, Kostygin acting as the Board Chairman of Ulmart provided false information on the company’s financial position to Sberbank for signing a loan agreement. In April, Sberbank transferred 1 billion rubles ($17.3 million at the current exchange rate) to the company’s account. The accused allegedly managed the money in his discretion.

The defendant pleaded not guilty, his lawyer Konstantin Dobrynin told RAPSI earlier.

Ulmart group of companies is the largest Russian private Internet holding focusing on e-commerce segment. The company’s distribution network consists of over 400 sales outlets across more than 240 Russian cities and towns.

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Ulmart subsidiaries ordered to pay $16 mln to Russia’s Sberbank

16:59 21/06/2018 The Thirteenth Commercial Court of Appeals has recovered over 1 billion rubles (about $16 million) from three subsidiaries of Russian e-commerce giant Ulmart in favor of Sberbank.
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