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Court to hear state-run bank's multi-million lawsuit on November 25

13:32 04/10/2011

MOSCOW, October 4 - RAPSI, Sergei Feklyunin. A commercial court will hear on November 25 three lawsuits filed by Rosselkhozbank, the Russian major financial institution, on the recovery of $60.94 million, the court told the Russian Legal Information Agency (RAPSI) on Tuesday.

Russian Agricultural Bank (Rosselkhozbank) was established in 2000. The Russian government owns 100 percent in the bank. Rosselkhozbank is one of five largest Russian banks. It grants loans to Russian agribusiness. The bank has more than 1,600 subsidiaries across Russia.

The bank submitted lawsuits against Cheryomushkinsky Market and Vinexim, a distributor of alcohol products, on September 26.

RAPSI has yet to obtain comments from the parties.

The media reported in 2005-2006, that Cheryomushkinsky Market and Vinexim would co-invest the construction of a multifunctional complex in South-Western Moscow, which was expected to be built by 2007. The complex was to include an agricultural market, a hotel able to host 700 guests, office premises, an entertaining complex and an underground parking lot.

But the project was never implemented.

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Court to hear state-run bank's multi-million lawsuit on November 25

13:32 04/10/2011 A commercial court will hear on November 25 three lawsuits filed by Rosselkhozbank, the Russian major financial institution, on the recovery of $60.94 million.
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