Moscow Auctions Luxury Apartment Over 40M Ruble Debt
A luxury apartment in Moscow belonging to the president of the Russia-China Fund for Cultural and Educational Development, Cui Shang, is being sold at auction due to a debt of nearly 40 million rubles. The property, purchased in 2017 with a payment plan, was seized after the buyer failed to make payments.
Consensus
- The apartment is located on Vavilov Street in the Lomonosovsky District of Moscow.
- The apartment is nearly 240 square meters and occupies the third and fourth floors of a residential complex.
- The apartment has a spacious living room, several bedrooms, walk-in closets, and a private spa area.
- Cui Shang purchased the apartment in 2017 for 53.7 million rubles with a payment plan until the end of 2022.
- Cui Shang made only a few payments before stopping all payments.
- The seller waited several years before filing a lawsuit.
- A court ruled to terminate the purchase agreement and ordered the apartment to be sold at public auction.
- The debt amount is 37.6 million rubles, plus up to 2.9 million rubles in interest.
- In March 2026, bailiffs seized the property and transferred it for sale.
- The initial auction price is 75.2 million rubles, with a potential reduction to 63.9 million rubles if no buyer is found.
- The auction has already begun.
Coverage (2 sources)
- In Moscow, an elite apartment is being sold at auction for debts of 40 million rubles — РИАМО
- In Moscow, an elite apartment of the president of a Russian-Chinese fund is being sold at auction due to a debt of almost 40 million rubles. — Baza