Russian bailiffs prepare to seize Moscow’s Four Seasons Hotel from former bank owner

Photo: Four Seasons Hotel

Photo: Four Seasons Hotel

Russian bailiffs are preparing to seize the Four Seasons Hotel and the Modny Sezon shopping centre in Moscow from their jailed owner Alexey Khotin, the Federal Bailiff Service told RIA Novosti on Thursday.

A Moscow court ordered that the deeds for both properties, which were acquired by Khotin and his father in 2015, to be transferred to the Russian state on 3 April. The Federal Bailiff Service has also filed a forfeiture claim against other buildings owned by Khotin. The list comprises approximately 50 companies with more than 1.5 million square metres of office and retail space in Moscow.

Experts interviewed by news outlet RBC estimated the value of the shopping gallery at 5–8 billion rubles (€51.6–82.6 million) and the hotel at 20.5–23 billion rubles (€211.7–237.5 million). According to the national registry, the total floor area of the buildings is at least 34,700 square metres.

Khotin, the former owner of Yugra Bank, was sentenced to nine years in prison in March after being found guilty of embezzling 314 billion rubles (€3.2 billion) from Yugra Bank’s customers. Alongside his co-defendants, Khotin was also fined 17.3 billion rubles (€178 million) to compensate affected Yugra Bank depositors.

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