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Abramovich suing Krylya Sovietov
Russia - 30 July, 2007
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Millhouse, which Roman Abramovich operates for investment, has filed a suit in a Russian court against Russian Krylya Sovietov Samara for non-payment of USD 7.1 million in loans.
"There were two separate loans, one was due in 2004 and the other in 2005," said John Mann, a spokesman for the English Chelsea owner. "We have extended both loans several times, the last time through the end of 2006, but still they failed to repay it and we had no choice but to go to court."
Krylya said it still wished to repay the loans, saying it would ask for help from the regional government to fulfill its obligation. He set September as a goal for payment.
"The regional parliament has a meeting on July 31 and we hope the club will get a state subsidy," club president Alexander Baranovsky said.
"There were two separate loans, one was due in 2004 and the other in 2005," said John Mann, a spokesman for the English Chelsea owner. "We have extended both loans several times, the last time through the end of 2006, but still they failed to repay it and we had no choice but to go to court."
Krylya said it still wished to repay the loans, saying it would ask for help from the regional government to fulfill its obligation. He set September as a goal for payment.
"The regional parliament has a meeting on July 31 and we hope the club will get a state subsidy," club president Alexander Baranovsky said.
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