The court declared the son of singer Valeria bankrupt due to debts of almost 23 million rubles.

The Moscow Arbitration Court recognized the son of singer Valeria Arseniy Shulgin as insolvent (bankrupt) and introduced a property sale procedure against him. This was reported on August 6 by a correspondent of Izvestia from the courtroom.

The case is related to a debt that arose after Shulgin borrowed money for business development. However, he has not fulfilled his obligations to return the funds.

At the previous meeting, the court approved the replacement of the creditor — a person or company to whom the debtor is obliged to return the money. The new creditor has transferred the rights of claim for almost 23 million rubles, including the principal debt, interest, penalties and court costs.During the meeting, it also became clear that Shulgin was not officially employed and had not yet repaid the debt.

Taking into account these circumstances, the arbitration court declared Shulgin bankrupt and introduced a procedure for the sale of property. At this stage, the financial manager must determine what property the debtor has in order to use it, if any, to pay off debts to creditors.

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According to financial organizations, this status covers those who were not going to repay the loan, but what about those who really got into trouble?

The application for declaring the son of singer Valeria bankrupt was submitted to the court of the capital back in May. The documents stated that Philip Berezovsky was the creditor. Also in October 2024, the Tverskoy District Court of Moscow filed a lawsuit against Shulgin for recovery of amounts under the loan agreement, which amounted to more than $587 thousand.