RusBankrot
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16/05/2025
Friday
THIS DAY IN HISTORY:
16 May 
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
16 May
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The Russian poet Joseph Brodsky was ordered to leave the USSR.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The decision was made to begin the “cultural revolution” in China.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
1970 The first film awards, which were later called the Oscars, were issued in Hollywood.
TRUST BANK REDUCES THE AMOUNT OF A RECORD LAWSUIT AGAINST THE EX-MANAGEMENT OF ROSTBANK
As part of the ongoing judicial drama, Trust Bank announced a reduction in the amount of its financial claims against ex-executives of Rostbank (case no. A40-173349/2020). Earlier, the amount of the claim amounted to over 306.5 billion rubles. Now it has been reduced by 3 billion. The clarification was announced during a meeting of the Moscow Arbitration Court (Arbitration Court of the city of Moscow).
The former owner of the bank, Mikail Shishkhanov, and several of his former executives remain at the center of the trial. Two of them (Kirill Lyubentsov and Alexey Farafontov) held the positions of chairmen of the management board in the credit institution, and another one, Alexander Lukin, was a member of the board of directors.
Trust Bank claims that the defendants approved contracts for several years (2015-2017), which caused major financial losses to the bank, which was subsequently absorbed by Trust. The adjustment of the amount of the claims was caused by the proceedings on a specific transaction.
It turned out that the bank had invested about 50 billion rubles in the authorized capital of the company "Growth Capital". The funds were intended for the acquisition of 14 legal entities and several real estate objects.
The deal caused damage initially estimated at $38 billion. But after the insolvency procedure of the Rostec Capital company was completed, additional facts were revealed. The assets of the organization were sold at auction at a price 3 billion more than they were initially estimated. This was the basis for the revision of the amount of the claim.
In 2020, the court took security measures that affected the assets of all the defendants in the case. Their property was frozen for large amounts of claims. This includes assets of Shishkhanov (worth over 306.5 billion), Lyubentsov (worth 305.2 billion) and Lukin (worth 263.3 billion). At the same time, the court allowed the defendants to retain access to 80% of their salaries to cover current expenses.
This case remains one of the largest in the history of Russian banking reorganizations and stands out for the scale of financial requirements. Further litigation is expected to shed light on many aspects of the bank's management and the actions of its former management.
The former owner of the bank, Mikail Shishkhanov, and several of his former executives remain at the center of the trial. Two of them (Kirill Lyubentsov and Alexey Farafontov) held the positions of chairmen of the management board in the credit institution, and another one, Alexander Lukin, was a member of the board of directors.
Trust Bank claims that the defendants approved contracts for several years (2015-2017), which caused major financial losses to the bank, which was subsequently absorbed by Trust. The adjustment of the amount of the claims was caused by the proceedings on a specific transaction.
It turned out that the bank had invested about 50 billion rubles in the authorized capital of the company "Growth Capital". The funds were intended for the acquisition of 14 legal entities and several real estate objects.
The deal caused damage initially estimated at $38 billion. But after the insolvency procedure of the Rostec Capital company was completed, additional facts were revealed. The assets of the organization were sold at auction at a price 3 billion more than they were initially estimated. This was the basis for the revision of the amount of the claim.
In 2020, the court took security measures that affected the assets of all the defendants in the case. Their property was frozen for large amounts of claims. This includes assets of Shishkhanov (worth over 306.5 billion), Lyubentsov (worth 305.2 billion) and Lukin (worth 263.3 billion). At the same time, the court allowed the defendants to retain access to 80% of their salaries to cover current expenses.
This case remains one of the largest in the history of Russian banking reorganizations and stands out for the scale of financial requirements. Further litigation is expected to shed light on many aspects of the bank's management and the actions of its former management.
12.12.2024
