Friday, August 21, 2009
Telegraph.co.uk,
Telegraph.co.uk,
Boastful magnate Sergei Polonsky sees company go under
Construction magnate Sergei Polonsky, who once claimed anyone who failed to become a billionaire in Russia was a loser, has announced his company is going under.
Sergei Polonsky posted a letter on his website saying his Mirax Group, which was worth $1.2 billion in 2008, would have to stop all construction.
It came after a court froze the firm's assets for its failure to repay a $242 million loan, putting the brakes on a series of high-profile projects.
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Posted by Editor on 08/21/09 at 07:58 AM •
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