Moscow’s Odintsovo Court has ruled that the debtors can no longer claim immediate repayment of a multimillion loan took by Viktor Baturin, former Moscow’s mayor Luzhkov’s relative.
The dispute goes back to summer 2010. At that time Baturin borrowed 500m roubles ($17.5m) at the interest from three companies - VELES Agroproduct LLC (254m), Grant (83m), Park Servis (154m). The money were remitted to Baturin's accounts. Later on Baturin cleared off a certain part of the debt, namely the interest. However, he still owes the bulk of the credit - 500m roubles. Baturin refused to pay, saying he faced financial difficulties. After unsuccessful attempts to peacefully settle the conflict and claim the rest of the money, the debtors took the case to the court.
After long hearings, the court took Baturin’s side. In all three cases (filed by the lawyers of Park Servis LLC, Grant LLC and VELES LLC) the court ruled in favour of Baturin. The judged passed on the following decision: the debtors cannot demand immediate repayment, but should wait until Baturin has money to pay the debts.