"The Kremlin Group could ask the Russian government to intervene"
"A Russian-owned company that sold a hotel project to Seán Quinn's international property group during the boom is seeking to recover an alleged US$5m (€4.3m) debt and has indicated it will ask the Russian government to intervene after the liquidators rejected its claim."
"Kremlin Group says Quinn Investments Sweden, the Quinn family's overseas property vehicle, agreed to buy exclusive lease rights for a planned hotel development in Ufa, southwest Russia, in 2007 but never paid the agreed US$5m. The company has now revived the claim as the Government prepares to wind up the Irish Bank Resolution Corporation (IBRC), the nationalised Anglo Irish Bank, following the sale of the last of the Quinn assets in Russia."
Kremlin Group, a Russian-owned company that sold a planned hotel project in Ufa to the Quinn family's international property vehicle, alleges an unpaid US$5m from a 2007 agreement for exclusive lease rights. The company says Quinn Investments Sweden agreed to pay but never fulfilled the US$5m obligation. Liquidators rejected the Kremlin Group’s claim, prompting the company to revive the demand and indicate it may seek intervention from the Russian government. The revived claim coincides with Government preparations to wind up the Irish Bank Resolution Corporation after the sale of the last Quinn assets in Russia.
Read at Independent
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