RusBankrot
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03/03/2026
Tuesday
THIS DAY IN HISTORY:
3 March 
1933 Hitler proclaimed the formation of the Third Reich.
1933 Hitler proclaimed the formation of the Third Reich
1878 The principality of Great Bulgaria was formed as part of the Ottoman Empire.
1878 The Principality of Great Bulgaria was formed as part of the Ottoman Empire
1613 16-year-old Mikhail Fedorovich was elected to reign and became the first tsar in the Romanov dynasty.
1613 16-year-old Mikhail Fedorovich was elected to rule and became the first Tsar of the Romanov dynasty
3 March
1933 Hitler proclaimed the formation of the Third Reich.
1933 Hitler proclaimed the formation of the Third Reich
1878 The principality of Great Bulgaria was formed as part of the Ottoman Empire.
1878 The Principality of Great Bulgaria was formed as part of the Ottoman Empire
1613 16-year-old Mikhail Fedorovich was elected to reign and became the first tsar in the Romanov dynasty.
1613 16-year-old Mikhail Fedorovich was elected to rule and became the first Tsar of the Romanov dynasty
THE APPEAL REJECTED ALFA-CAPITAL'S CLAIM TO EUROCLEAR BANK FOR 319.4 BILLION
The Court of Appeal (9th AAC) upheld the verdict of the Moscow Arbitration Court (AC GM), which refused to recover 319.4 billion rubles from the Belgian depository Euroclear Bank. The court rejected the management company's complaint, thus completing this stage of the legal dispute.
The subject of the proceedings were securities belonging to Alfa-Capital's clients that were blocked in Euroclear. The sanctions imposed several years ago led to the freezing of assets of clients from the Russian Federation in foreign depository systems.
However, the court found no grounds for satisfying the claims. In support of the refusal, it was stated that the plaintiff had not provided evidence of a real loss of rights to the securities. It followed from the available documents that the company continues to be listed as their holder and theoretically can dispose of them, for example, through over-the-counter transactions. In addition, the court noted that the submitted materials did not confirm the fact of losses or expenses incurred.
The organization filed a claim in February 2024, representing the interests of almost 150,000 clients. The total amount consisted of two components. About 184.8 billion was the value of assets held in trust. Approximately 134.6 billion more are the assets of mutual funds managed by Alfa Capital.
Initially, the lawsuit also requested that the lost income be recovered. But in May, the issue of compensation for the value of the assets themselves was separated by the court of first instance into a separate proceeding, which later became the main one.
The judges also took into account the position of the Central Bank of the Russian Federation, which considers the restrictions as a temporary measure, not equivalent to asset confiscation. According to the regulator, after the restrictions are lifted, their owners will be allowed to return to exchange operations with them.
The persons representing the defendant during the appeal objected to the plaintiff's references to the position of the Russian regulator. It was noted that approaches to the country's sovereign assets cannot be automatically applied to private investments.
This lawsuit was one of almost two hundred similar cases, and before the Central Bank of the Russian Federation filed claims for 18.2 trillion rubles, it was considered the largest in amount. Alfa-Capital, which manages assets of 1.7 trillion rubles at the end of October last year, remains one of the leaders of the Russian market.
The subject of the proceedings were securities belonging to Alfa-Capital's clients that were blocked in Euroclear. The sanctions imposed several years ago led to the freezing of assets of clients from the Russian Federation in foreign depository systems.
However, the court found no grounds for satisfying the claims. In support of the refusal, it was stated that the plaintiff had not provided evidence of a real loss of rights to the securities. It followed from the available documents that the company continues to be listed as their holder and theoretically can dispose of them, for example, through over-the-counter transactions. In addition, the court noted that the submitted materials did not confirm the fact of losses or expenses incurred.
The organization filed a claim in February 2024, representing the interests of almost 150,000 clients. The total amount consisted of two components. About 184.8 billion was the value of assets held in trust. Approximately 134.6 billion more are the assets of mutual funds managed by Alfa Capital.
Initially, the lawsuit also requested that the lost income be recovered. But in May, the issue of compensation for the value of the assets themselves was separated by the court of first instance into a separate proceeding, which later became the main one.
The judges also took into account the position of the Central Bank of the Russian Federation, which considers the restrictions as a temporary measure, not equivalent to asset confiscation. According to the regulator, after the restrictions are lifted, their owners will be allowed to return to exchange operations with them.
The persons representing the defendant during the appeal objected to the plaintiff's references to the position of the Russian regulator. It was noted that approaches to the country's sovereign assets cannot be automatically applied to private investments.
This lawsuit was one of almost two hundred similar cases, and before the Central Bank of the Russian Federation filed claims for 18.2 trillion rubles, it was considered the largest in amount. Alfa-Capital, which manages assets of 1.7 trillion rubles at the end of October last year, remains one of the leaders of the Russian market.
16.01.2026
