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Court postpones hearing Bank of Moscow's $22 mln suit

14:05 09/09/2011

MOSCOW, September 9 - RAPSI, Natalia Belova. The Moscow Commercial Court has postponed until September 29 preliminary hearings in Bank of Moscows suit against Tyazhprommash for $22.12 million, the court told the Russian Legal Information Agency (RAPSI).

The court postponed the case since the defendant was not notified about the hearing date.

According to court documents, the bank filed four lawsuits against Tyazhprommash, for a total of 1.16 billion rubles ($39.2 million) due to the bank under loan agreements.
Business media earlier reported that Tyazhprommash is owned by former Bank of Moscow president Andrei Borodin.

VTB, Russia's second-largest bank, acquired a 46.48 percent stake in the Bank of Moscow from the Moscow government in February. The acquisition sparked a conflict between shareholders and a public clash between the top management of the two banks.

Tyazhprommash produces a wide range of cargo-lifting equipment.

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Court postpones hearing Bank of Moscow's $22 mln suit

14:05 09/09/2011 The Moscow Commercial Court has postponed until September 29 preliminary hearings in Bank of Moscows suit against Tyazhprommash for $22.12 million.
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