‘We used to do business with Hydrospetsstroy (the general contractor of Noviy Grad Construction Holding), yet we never got the money for the job in full,’ Sergey Suschiy, the Chief Engineer of Antalex Ltd., said to UrBC representative.

‘Our company acted as a subcontractor in a project coordinated by Hydrospetsstroy. We had to do a number of things that had not been included in the agreement, and Technadzor, the building authority, testified the completion of the jobs. However, we were not paid for working extra, with the missing sum coming to 20% of the total amount of money we were supposed to receive,’ Mr Suschiy said.

Hydrospetsstroy Ltd. is, in fact, currently in the middle of bankruptcy proceedings. The company’s office was searched on November 29, 2006; this had to do with the criminal action concerning deliberate bankruptcy (Article 196 of the Russian Criminal Code).