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Bank of Moscow lawsuit for $30 mln from winery soon to be heard

13:23 07/09/2011

MOSCOW, September 7 - RAPSI, Natalia Belova. The Moscow Commercial Court has postponed until October 5 its hearings in the Bank of Moscow's lawsuit against Milstream Black Sea Wines for 822.955 million rubles ($29.4 million) in debt, the Russian Legal Information Agency (RAPSI) reported from the courtroom.

The case was postponed because the defendant contested the court ruling not to involve Tamasky Vonodel, the loans guarantor, as a third party. The appeal will be considered on September 20.

This is the largest of four lawsuits filed by the bank on June 7 against wineries. The requested damages of the claims total over 1 billion rubles.
Kornet and the Moscow Interrepublican Winery are defendants in the other lawsuits.

According to the source, the plaintiff is seeking the outstanding principal amount and interest under loan agreements because it is not a shareholder of its debtors, but, rather, their lender.

The other parties to the lawsuits have thus far not commented to RAPSI.

Business media sources have alleged that Bank of Moscow former President Andrey Borodin owns the companies being sued.

VTB, Russia's second largest bank, purchased 46.48 percent in the Bank of Moscow from the Moscow government in February. The transaction was accompanied by a conflict among the shareholders and public attacks by top managers.

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Bank of Moscow lawsuit for $30 mln from winery soon to be heard

13:23 07/09/2011 The Moscow Commercial Court has postponed until October 5 its hearings in the Bank of Moscow's lawsuit against Milstream Black Sea Wines for 822.955 million rubles ($29.4 million) in debt.
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