TOCHKA BANK FILED 6 LAWSUITS AGAINST MTS' DAUGHTER

TOCHKA BANK FILED 6 LAWSUITS AGAINST MTS' DAUGHTER

TOCHKA BANK FILED 6 LAWSUITS AGAINST MTS' DAUGHTER
On August 30, 2024, the Intellectual Property Rights Court (IPC) received 6 applications from Tochka Bank. The defendant is the Russian Telephone Company (RTC), which is a subsidiary of MTS PJSC. Rospatent passes through them as a third party. The credit institution demands that the court prematurely revoke the rights of the RTC to trademarks (TK) registered for the defendant in several classes (9, 16, 35 and 36) of the International Classification of Goods and Services (ICTS).

Four of the bank's applications have not yet been accepted by the M&A for consideration. Proceedings have begun on three claims (cases No. SIP-1002/2024, SIP-1003/2024 and SIP-1007/2024). The hearings are scheduled for October 7, 2024.

Representatives of the bank insist that the defendant does not use TK and may be deprived of the exclusive right ahead of time. Attempts to negotiate a voluntary assignment of rights to TK in a pre-trial manner were unsuccessful. MTS says that they did not stop using the means of individualization in accordance with the law, and the conditions offered by the bank are called unacceptable. The trademark rights disputed by the plaintiff are valid until October 18, 2027.

Recall that in the spring of last year, Trust put up for auction more than 90% of the shares of Tochka bank. By July 2023, it was reported that this lot, which included all the subsidiaries of the digital bank, had been acquired by a consortium of investors.

His bank executives were in it, as well as the Interros company, which is under the control of Vladimir Potanin. The transaction amount exceeded the initial value by 16.8 billion, amounting to 41.5 billion. In March 2024, Kommersant reported that VK acquired a quarter of Tochka's shares for 11.63 billion, and 1C became a participant in the investor group.

09.09.2024