The assets of the deceased in Zanzibar billionaire Sosin await redistribution

Igor Sosin, the founder of the Starik Hottabych, OBI and Modi retail chains, died on the island of Zanzibar, where he was on vacation with his daughter Taisia and his young girlfriend.
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According to preliminary data, the cause of death of the 53-year-old businessman could have been a heart attack. The billionaire was haunted by problems in business, a difficult divorce process, which affected his condition. Life was figuring out who could qualify for Sosin's money.

Family matters

In recent months, Igor Sosin divorced his second wife, Inna, whom he married in 2013 in Monaco. By the time of his vacation, the legal formalities were still not completed, and, as they said in Sosin's entourage, the businessman was very upset by the situation, was morally exhausted.

In March 2020, the billionaire was taken to a Moscow hospital in Kommunarka with bilateral pneumonia, one of the tests for coronavirus tested positive.

He went to Zanzibar to bring himself to his senses, taking his daughter and young mistress with him on the journey. In turn, Inna with her new friend went to celebrate the New Year in the Bahamas. Upon learning of her husband's death, she immediately flew to Moscow.

The last five years of Sosin's life cannot be called calm. In 2015, his son Yegor killed his own mother, Anastasia Sosina. A 19-year-old boy strangled her with a wire while charging her smartphone in a hotel room in Kazan, where they both came to trainings on the spiritual practices of the Hellinger couple worth 25 to 50 thousand rubles. After the murder, the court sent the billionaire's son to compulsory treatment.

And in 2018, Sosin's stepson, Vyacheslav, was noted for the scandal. The security guard of the teenager, who was then 13 years old, beat the rapper Guf (Alexey Dolmatov) because of the artist's too short performance. Then the singer went to the police.

Dispute for 100 million rubles

First of all, the relatives will have to resolve operational issues. In recent years, the billionaire's business has been mired in litigation and corporate conflicts. One of the main ones was the trial with the former head of the Modi network, Olga Gerasimova.

Modi, owned by Sosin, demanded 102 million rubles from Gerasimova, who managed this business until 2019. In the claim to the Moscow Arbitration Court, the company indicates that this is the amount of damage that it allegedly caused.

Details are not provided in the statement. Gerasimova's task was to modernize and develop the business. But it seems that she failed to realize Sosin's grandiose plans - in three years to open 500 stores throughout Russia. In fact, it turned out to launch less than a hundred Modi markets. But even with such volumes, the corporation manages to receive revenue of up to 1.5 billion rubles every year.

There were also small courts with counterparties: the Grape advertising agency (transformed into Possible) recovered almost 5 million rubles from Sosin's company, and the Slavyanka firm demanded 4.2 million rubles.

The Odezhda 3000 JSC company, which sells under the Modis sign, has been a defendant in claims for a total of more than 300 million rubles in the period from 2016 to 2020 almost 80 times. However, for a company with revenues of almost 10 billion rubles, this is not so painful.

Interestingly, Clothes 3000 is the most profitable asset in Sosin's business empire. For example, Modis over the past year was able to bail out one and a half billion rubles, and in the courts it lost only 17 million.

Under the supervision of tax authorities

Sosin could also have problems with the Federal Tax Service. In the financial statements of the billionaire's companies, the tax authorities noticed a suspiciously low profitability of sales and low salaries in the market, which, according to the fiscal service, could mean concealment of income and evasion of personal income tax.

About a dozen of Sosin's companies were liquidated by the decision of the Federal Tax Service. For example, the Krona Max company, previously owned by Sosin, where the Scottish offshore Titanum Trade Limited also had a share. This is evidenced by the data of SPARK-Interfax.

By the way, the operating companies of Sosin are also registered in foreign jurisdictions. Modi stationery and Modis clothing store chain are 100% owned by Cypriot organizations.

Inheritance for a billion

The annual revenue of Igor Sosin's companies exceeds 11 billion rubles. His firms lease 70 properties throughout Russia. For example, Modi points are in shopping centers in Moscow, St. Petersburg, Krasnodar, Samara, Petrozavodsk, Rostov-on-Don.

The most likely heirs to the assets of the deceased billionaire are still his children. This is the 18-year-old daughter Taisiya and the eldest son from his first marriage, Anton. The girl leads a closed lifestyle: she seems to have deleted her social media accounts after the murder of her mother in 2015. Anton Sosin is now the owner of Lia-Invest, a Moscow-based demolition company. The general director of his company, Semyon Slutsky, also manages the main asset of the deceased billionaire - Clothes 3000 JSC. Another son of Sosin, Yegor, was sent for compulsory treatment after the murder of his mother. Formally, the businessman was in a state of divorce from his last wife. In theory, she remains on the list of direct heirs who can claim his assets.

- If Sosin did not manage to draw up a will, then there are three main heirs: daughter Taisia, son Anton and wife Inna. If the son Yegor is insane and is now under compulsory treatment, it is unlikely that he will be able to inherit simply physically. If Inna at the time of Sosin's death was still his legal wife, then she can declare the rights to inheritance. In the case when the marriage was registered in Monaco, through the court it can be recognized as legal in the Russian Federation, - explained the lawyer Maxim Kalinov.

Ilya Titov, senior partner at the Q&A law bureau, head of family and inheritance law practice, believes that the application for divorce submitted by Sosin's wife before his death may partially affect what property she will get:

- The issues of divorce, division of marital property and inheritance should be separated. The marriage ends at the time of death. Therefore, the issue of divorce in court is no longer relevant.

The fact that in recent months Sosin and his wife have been in a state of divorce may affect what property the wife will receive, but not dramatically, as Titov explains.

- It is important how the court determines the moment of termination of the joint household by the spouses. Typically, this information is indicated in the statement of claim. Accordingly, this fact can affect the distribution of property.

Inheritance planning could help avoid problems in business management during the inheritance period, Titov said.

- Issues of inheritance are related to how much property will be recognized in court as spousal, that is, joint property of [the Sosins]. The share of each spouse will be allocated, and then the property owed to the deceased will be divided among the heirs. If the issue of inheritance has not been resolved in advance, the property will be divided in equal shares between the heirs. Questions will arise with the management of these assets during the transition period. The presence of business management mechanisms during the inheritance period could have a positive effect on the operating activities of enterprises.

When it comes to big money, relatives do not always manage to agree. So, for example, happened with the inheritance of the recently deceased businessman Dmitry Bosov. The mother and children were suing a widow for assets. This is 43% in the Alltek company, which controls the Sibanthracite corporation, one of the world's largest anthracite miners.

Perhaps Sosin did not rule out that something could happen to him, so he wrote his will in advance. While his lawyers are silent.