Working with Krasniy Sektor
Summary
Representing Irish Bank Resolution Corporation for the recovery of assets illegally siphoned off by the debtor. Working with Krasniy Sektor.
Other ancillary cases
Krasniy Sektor owned a shopping mall.
SAMONACA HOLDINGS LIMITED was the sole participant of Krasniy Sektor.
Irish Bank provided financing to Krasniy Sektor through loans secured by the shopping mall.
On 26 May 2011, the Quinn family, using its control over SAMONACA HOLDINGS LIMITED, managed to change the participants of Krasniy Sektor.
Stephen Joseph Kelly, a new participant, acquired a 0.4975% interest in Krasniy Sektor.
Stephen Joseph Kelly was acting on behalf of the Quinn family.
On 26 May 2011, the Quinn family, using its control over SAMONACA HOLDINGS LIMITED, managed to change the participants of Krasniy Sektor.
Stephen Joseph Kelly, a new participant, acquired a 0.4975% interest in Krasniy Sektor.
Stephen Joseph Kelly was acting on behalf of the Quinn family.
Stephen Joseph Kelly appointed Svetlana Pershina as new CEO.
On 3 October 2011, Svetlana Pershina initiated Krasniy Sektor's bankruptcy proceedings.
Svetlana Pershina and the bankruptcy receiver actively resisted the inclusion of Irish Bank's claims in the register of Krasniy Sektor's creditors.
The validity of the mortgage agreement for the shopping mall was challenged.
A sham debt due to Vneshkonsult, acting on behalf of the Quinn family, was included in the register of creditors under the influence of Svetlana Pershina and the receiver.
In Irish legal proceedings, the consultants managed to establish control over SAMONACA HOLDINGS LIMITED.
On 15 May 2013, SBP’s lawyers won the legal dispute for the restoration of corporate control over Krasniy Sektor.
In the Krasniy Sektor bankruptcy proceedings the consultants managed to secure the inclusion of Irish Bank’s claims in the register and the exclusion of claims by Vneshkonsult, acting on behalf of the Quinn family.