The construction industry is on the verge of collapse.
Sberbank demanded to recognize the bankrupcy of owner of SU-155 construction company, Mikhail Balakin, who has the 50th place in the list of richest Russians. Businessman gave personal guarantees on loans of his companies.
The first default is expected on the Russian construction market due to the crisis. SU-155 owned by Mikhail Balakin refused to redeem the bonds for 2.3 billion rubles.
The Moscow region government threatened the developer with bankrupcy.