The property of Telman Ismailov’s family in Montenegro may be confiscated
The value of assets, including real estate and companies, is estimated at 3 million euros
Quick Look
- The property of businessman Telman Ismailov and his family in Montenegro, worth about 3 million euros, may be seized as part of bankruptcy proceedings.
- Assets include land plots, commercial properties and companies in Podgorica.
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Why It Matters
Telman Ismailov was declared bankrupt by the Arbitration Court of the Moscow Region in 2017. The bankruptcy procedure is associated with multi-billion dollar debts to banks and companies.
Property in Montenegro worth 3 million euros, including a house, a scorpion nursery and the metalworking companies Monte Panel and Monte-Metal, registered to businessman Telman Ismailov and his associates, may be seized, the Izvestia newspaper reports, citing lawyer Dmitry Shchadrin.
According to Izvestia, the Ismailov family owns a complex in Montenegro in the village of Donji Kokoti: it includes 30 land plots with a total area of two hectares, six residential and commercial buildings, as well as a scorpion nursery of the New Horizon Montenegro company. The cost of the property, as the publication writes, is estimated at approximately 3 million euros. Some of the objects are registered to the businessman’s wife Samira Badalova, some to his partners and citizens of Montenegro, the publication says.
According to the publication, Telman, years after fleeing Russia, also officially became a businessman in Montenegro - in the summer of 2026, he registered two companies in Podgorica for the production of metal structures and metal processing - Monte Panel and Monte-Metal.
“In theory, the possibility of seizing property exists... But there are nuances. Considering that the property is distributed among different people, and the purpose of the house has been changed from residential to commercial, the creditors’ lawyers will have to additionally establish legally significant facts and, apparently, challenge subsequent transactions, proving that the entire complex belongs to the Ismailov family,” Shchadrin told the Izvestia newspaper.
According to the lawyer, if there are decisions of Russian courts that have entered into force against Ismailov, they can be sent for execution to the justice authority of Montenegro.
In March 2017, the Arbitration Court of the Moscow Region declared Ismailov bankrupt and opened a procedure for the sale of his property. The court introduced Ismailov’s first bankruptcy procedure - debt restructuring - in August 2016 at the request of BM-Bank from the VTB Group. The debt to the bank then exceeded 17 billion rubles. The bankruptcy procedure continues.
As of May 2022, the debts of the Rusline 2000 company were estimated at approximately 14.5 billion rubles. The courts held Ismailov, his two sons - Alekper and Sarkhan - and former general director Pyotr Ilyaev to subsidiary liability for her obligations.
Open Questions
- Does Montenegro recognize the decisions of Russian courts in this case?
- Will creditors be able to prove the connection of assets with Ismailov’s family?
