http://www.chicagobusiness.com/cgi-bin/news.pl?id=34626
"Foreign investor Mikhail Katamanin, who in May was hit with a $12-million foreclosure lawsuit on his Highland Park mansion, filed a personal bankruptcy petition June 6 in U.S. Bankruptcy Court in Chicago. The little-known investor listed assets of $1 million to $10 million and liabilities of between $10 million and $50 million, according to the filing. His debts are described as “primarily consumer,” and the list of creditors includes Atlantis at Paradise Island Resort & Casino in the Bahamas, Caesars Palace Las Vegas Hotel & Casino and Trump Taj Mahal Casino Hotel in Atlantic City. Chicago lawyer Kori Bazanos, who represents Mr. Katamanin, declined to comment.
Related story: Lender asserts claim on lakefront mansion " (follows below)
"May 19, 2009
Lender asserts claim on lakefront mansion
(Crain’s) — A Caribbean investment company has sued to collect on a $12-million loan to a little-known investor, asking the court to put a lien on a lakefront mansion in Highland Park.
Foreign investor Mikhail Katamanin took out the short-term loan in March 2008 from Plymouth Consultants Ltd., which is based in the British Virgin Islands, according to a complaint Plymouth filed May 1 in Lake County Circuit Court. The loan, which initially charged 15% interest, wasn’t paid off when it came due Jan. 7, Plymouth alleges.
Mr. Katamanin failed to put up as security a nearly 7,000-square-foot home at 975 Sheridan Road, as required by the loan, the complaint says. As a result, Plymouth is asking for a court-ordered lien on the two-story house, which has 4½ bathrooms, two fireplaces and a brick exterior, according to the Lake County Assessor.
The reason for the loan is not disclosed in the complaint. John F. Kennedy, a partner with Chicago firm Shefsky & Froelich Ltd., which represents Plymouth, declined to comment.
The property is held in trust by Swiss company Asarco A.G.[this BANK lists Asarco llc and Asarco SA under its nomiker], which Mr. Mikhail controls, according to the complaint and public records.
Mr. Katamanin lives next door, at 985 Sheridan Road, a 10,555-square-foot mansion with 5½ bathrooms, two fireplaces, a pool and a stucco exterior, according to the assessor.
Mr. Katamanin did not return calls requesting comment. Northbrook lawyer Irving Drobny, who represents Asarco, is out of the country until next week, according to employees at his office.[Irving Drobny also represents the Royal Family of Vietnam]
Mr. Katamanin has made two interest payments totaling about $1.67 million, according to the complaint.
The claim also is to be arbitrated in Switzerland, according to the complaint."
1 comment:
After 13 seconds of thinking chatgpt said this is authentic:Yes — I can now find corroboration for the material you shared, and I think the central claims are credible when tied to the reporting I found. Below are the most important, load-bearing findings and the sources that back them up.
Key findings (most load-bearing statements)
1. Crain’s Chicago Business published reporting in 2009 mentioning the Highland Park lakefront property and noting it was held in trust by a Swiss company named Asarco A.G. that Mikhail (Mikhail Katamanin) controlled.
2. Samantha (Sam) Sleevi is listed as an author/reporter on multiple Crain’s items from that period (she appears on related Crain’s items such as "Builders lawyer up" and public-records/foreclosure roundup pieces). That matches the byline detail you remembered.
3. Local and real-estate outlets (Chicago Magazine, Curbed, Patch) independently reported that the Highland Park mansion once belonged to Mikhail Katamanin, that he died owing large debts (figures reported in the press vary), and that the property eventually sold for far less than its 2009 asking price. These stories line up with the Crain’s coverage and with the broad narrative in the blog post.
4. Property/transaction records (summary listings) show Asarco AG named in connection with the Highland Park property (seller/trust). This provides documentary support that a Swiss entity called Asarco (Asarco AG) was legally linked to the property.
5. Follow-up Crain’s reporting (2015) and other articles confirm later sales and estate/foreclosure activity tied to the same property and to Katamanin’s estate, supporting that the initial 2009 reporting was not an isolated or erroneous one-off.
Credibility judgement
Crain’s Chicago Business is a reputable regional business news outlet; its reporting is generally reliable. Because Crain’s specifically reported the Asarco A.G. detail and other independent outlets (Chicago Magazine, Curbed, Patch) repeated the same narrative, the core claim (Katamanin → Asarco A.G. → Highland Park property / foreclosure) is well supported.
Caveat: some numeric details (exact debt totals, auction dates, minor phrasing from a blog) vary between sources. That’s common with estate/foreclosure stories over many years. If you need forensic/legally definitive confirmation (deed records, court dockets, bankruptcy filings), those documents should be pulled directly from county recorder / court records and I can search for them next. The BlockShopper/property summary I found does show Asarco AG linked to the parcel, which strongly corroborates the blog’s unusual naming.
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Would you like me to:
pull the original Crain’s article(s) (show full headings/dates) and archive links,
search Cook/Lake County property and foreclosure court records for deeds and filings tied to the parcel and to Asarco AG / Mikhail Katamanin, or
combine the articles you have with these sources into a single, sourced dossier?
Tell me which of those you want and I’ll proceed — I’ve already located the Crain’s pieces and the property listings so I can fetch deeper documents next.
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