A London court arrested the assets of former top managers of Inteko following the suit of Trust

The High Court of London arrested the property of former top managers of the developer Inteko Oleg Soloshchansky, Konstantin Edel and Svetlana Strelina in the amount of £24.8 million in England and Wales. The lawsuit was filed by Trust Bank, which demands the cancellation of the sale of the developer at auction in 2021. We have read the decision “Vedomosti”.

Trust bought out the developer Inteko in 2018, after which it sold it on the second attempt in 2022. At the first attempt to sell in 2021, an offshore company from the British Virgin Islands, Morden Finance Ltd, disrupted the auction, prohibiting its holding through the District Court of Nicosia (Cyprus). Trust believes that Oleg Soloshchansky, Konstantin Edel and Svetlana Strelina were behind this company.

The main jurisdiction in the case of the thwarted sale of Inteko is Cyprus. In January 2023, the bank appealed to the Cyprus court with a request to recover losses due to the forced cancellation of the auction. The amount of claims amounted to 2.85 billion rubles. The defendants are Morden, a related Cypriot company and eight individuals, including Oleg Soloshchansky, Konstantin Edel and Svetlana Strelina. The loss is estimated at interest on the starting price of the auction from December 14, 2021 to December 15, 2022. The date taken as the basis is December 14, and not November 16, 2021, since the Trust would not have received the money immediately on the day of the auction, but after a certain time.

The Trust filed a motion to seize the defendants’ worldwide assets to prevent them from concealing the disposition of the assets. The Cyprus court has not yet considered the issue of seizure of assets.

Oleg Soloshchansky was the president of Inteko, Konstantin Edel was the vice president for strategy. According to SPARK, they are now co-owners of the real estate management company Uniservice. Oleg Soloshchansky is a co-owner of nine more companies.

The High Court of London froze the assets of three individuals back in July, but in August they announced their intention to challenge the order. However, on the eve of the hearing, scheduled for the end of October 2023, the defendants informed the Trust that they voluntarily agreed to the seizure of assets in the UK pending consideration of the same issue by the Cypriot court. They also agreed to pay £150,000 in legal costs.

Soloshchansky and Strelina were allowed to spend up to £60 thousand monthly, Edel – up to £7 thousand if he disclosed the origin of the money to the Trust.

Trust received Inteko from Rost Bank Mikail Shishkhanov. Until September 2020, Trust indirectly owned 95% of Inteko through offshore companies, and then bought 100% of the shares from Cypriot Aurevo Ltd. Later, Trust began the financial recovery of Inteko and put it up for auction in the fall of 2021, setting the starting price at 37.4 billion rubles. 29.6 billion are 100% shares of Inteko, another 7.8 billion are rights of claim to the company.

Anastasia Larina