The Moscow Arbitration Court invalidated the deal to sell Russian Forbes to Magomed Musaev in August 2018 for 500,000 rubles due to the “non-commercial” amount of the deal.
The court ordered that the magazine be returned to its former owner, Alexander Fedotov.
Lawyers for the publication plan to challenge the court ruling, reports RBC.
The bankruptcy trustee of one of Fedotov’s companies, Valentina Chuprinskaya, applied to recognize the purchase agreement as invalid in the spring of 2022. She explained the decision by the fact that “the sale of shares below market value in the absence of other property could potentially violate the rights of creditors.
He insisted that the shares of JSC “AS Rus Media” – the publisher of the Russian Forbes – were sold “below their nominal and market value.”
The nominal value of the shares of AS Rus Media reached almost 69 million rubles, but the amount of the transaction, according to the text of the court ruling, amounted to 500 thousand rubles.
Forbes considers the court’s decision erroneous and recalls that the new owner assumed “the return of the company’s enormous debts.” At the time of purchase, the debts of JSC AS Rus Media exceeded 364 million rubles.
Author:
anastasia mariana
Source: RB
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