The transactions involving the transfer of the Russian capital’s stake in Bank of Moscow (RTS: MMBM) to OJSC Central Fuel Company and its subsequent sale to state bank VTB (RTS: VTBR) are being challenged in court.
VTB became aware of the lawsuit in July, and a preliminary hearing of the case is scheduled for August 20, VTB said in a memorandum for its upcoming offering of perpetual bonds, obtained by Interfax. VTB said it intends to resolutely defend its interests.
The lawsuit challenging the transactions was filed with the Moscow Arbitration Court on May 5 by Sergei Devyatov, and proceedings were initiated on July 3. The substance of the claims is not disclosed in public court documents. The defendants in the case are VTB, the Moscow Property Department and CFC. Continue reading