‘Sadly, we haven’t’ heard from Nikolai Kretov for quite a while now. Early in May, we were informed that the land allotment he’d received to put up an exhibition center was transferred to another company. The thing is, however, that this new company belongs to Kretov as well, which probably means that the man declared one of his businesses insolvent and transferred the allotment to his other company,’ Mayor of Yekaterinburg Arkadiy Chernetskiy said at Sverdlovsk Region’s Construction Committee.

The land allotment in question was given to Leader Holding Company, run by Nikolai Kretov. Incidentally, the company started its own bankruptcy proceedings at the end of April 2009.

The Mayor reports they are currently negotiating with the potential new investors who could go through with the construction project.

‘No one has reacted with much enthusiasm so far. Maybe it’s just the hard time for the business right now,’ Chernetskiy said.