MOSCOW, December 13 - RAPSI, Natalia Belova. A commercial court will hear on January 30 an insurer's lawsuit challenging the regulatory authority's order to withdraw its license, the court told Russian Legal Information Agency (RAPSI/rapsinews.com).

Innogarant, the claimant, is the insurer of the Capital Tour travel agency. It has been operating since 2000. Its charter capital amounts to 1.65 billion rubles ($52.5 million).
Capital Tour was established in July 2003 as the first universal international travel agency. It is one of Russia's top three travel agencies. It sells medium and high-budget tours to 40 countries through more than 20,000 travel companies in Russia, other CIS and Baltic countries.

Capital Tour announced the suspension of its tourist operations on November 16, 2010. In mid-December, Innogarant announced that it would compensate the agency's clients.

The Federal Insurance Supervision Service stated in February that the service had received complaints that Innogarant has defaulted in compensation payment. The insurer's license was then restricted on February 10 and revoked by the Federal Financial Markets Service on May 25.

Although Innogarant challenged its license restriction, the Moscow Commercial Court upheld the regulator's decision on September 26.