for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

Russian c.bank sues ex-B&N bank executives for $4.8 bln - court filings

MOSCOW, Sept 22 (Reuters) - The Russian central bank filed two lawsuits totalling 369 billion roubles ($4.84 billion) against former managers of B&N bank, a private bank bailed out by the regulator in 2017, Moscow court filings showed on Tuesday.

The central bank rescued B&N bank and Rost bank, both part of the Mikhail Gutseriyev family’s Safmar business empire, along with privately-owned Otkritie and Promsvyazbank, in 2017.

The central bank has since spent more than 2 trillion roubles supporting Otkritie, B&N and Promsvyazbank. It aims to recover at least some of these funds from the ex-owners directly and through the courts, as well as by selling assets.

The central bank did not immediately respond to a Reuters request for comment.

Safmar Group said in a statement that it, Trust bank and Otkritie bank had agreed to expand the scope of a settlement agreement, concluded in September 2019.

Otkritie bank told Reuters the claims against Gutseriyev and Safmar Group, arising from the bail out of B&N bank and Rost bank, would be considered fully settled if all parties fulfil their obligations in a timely manner. Otkritie and B&N merged under the Otkritie brand at the start of 2019.

Files at the Moscow Arbitration Court showed two central bank lawsuits filed on Monday, one for 284 billion roubles and a second for 85 billion roubles.

$1 = 76.2300 roubles Reporting by Alexander Marrow, Elena Fabrichnaya and Andrey Ostroukh; Editing by Kirsten Donovan

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up