10:50 19/02/2016

MOSCOW, February 19 (RAPSI) The Commercial Court of Primorsky Krai has declared Viktor Grebnev, former chief executive of TMK (Pacific Bridge Building Company), a contractor in the Vostochny Cosmodrome project, bankrupt, RIA Novosti reported on Friday.

Bankruptcy procedure was initiated by Sberbank in November 2015.

Viktor Grebnev is currently placed under house arrest.

According to investigators, from 2012 to the fall of 2014, Grebnev knowingly signed contracts of guarantee that were unprofitable for TMK, thereby embezzling over 288 million rubles ($3.7 million). He also signed several contracts that caused TMK over 130 million rubles ($1.7 million) in losses.

TMK said it failed to pay 96 million rubles ($1.2 milli…

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