GH Group and GH Real Estate, both overseeing development projects in Getberg and owned by Jegor Chlebnikov (also known as Egor Khlebnikov in official documents), are currently undergoing insolvency proceedings. Chlebnikov’s entire stake in GH Real Estate has been seized by an executor since March 26th. The insolvencies are being pursued at the request of creditors, with bankruptcy being proposed for both entities.
The insolvency proceedings for GH Real Estate were initiated in early April at the behest of Prague CBD, a company within the Penta group. Getberg had leased office space, parking spots, and storage facilities in Penta’s Masaryčka office complex. As previously reported by SZ Byznys, Chlebnikov’s company officially took over the leased spaces in August of last year but never commenced payment for them.
CBD has quantified its claim in the insolvency petition at 9.4 million euros, which amounts to over 237 million Czech crowns. Eight other creditors have thus far entered the insolvency proceedings, collectively asserting claims totaling around 1.8 million crowns. The largest sum is being sought by AspectWorks, which lent money to Chlebnikov in July 2021 to settle a debt with another business partner. Other claims stem from invoices for accounting, legal, or telecommunication services, interior work, employee benefit deliveries, with Deloitte Advisory also listed for consultancy services.
The insolvency proceedings for GH Group were initiated by the court at the end of March following a petition from three individuals claiming a total of over six million crowns in principal and interest. All three claims originate from loans or reservation fees for land that the petitioners paid to GH Group in 2018 and 2019. Courts had previously recognized all three claims, yet enforcement proved unsuccessful.
Two additional creditors have joined the insolvency proceedings for GH Group, formerly known as Getberg Homes. The situation surrounding both GH Group and GH Real Estate underscores the complexities and challenges faced by companies in the real estate development sector, particularly in the current economic climate. The outcomes of these insolvency proceedings will undoubtedly have far-reaching implications for all parties involved.