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Bank of Moscow's $26.3 mln action against winery to resume on February 9

17:26 26/12/2011

MOSCOW, December 26 - RAPSI, Natalia Belova. On Monday the commercial court postponed its hearings into Bank of Moscow's lawsuit against Milstream Black Sea Wines to recover $26.3 million in debt until February 9, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

At the Monday hearing the parties once again stated that they are negotiating a settlement.

This is the largest of four lawsuits filed by the bank against wineries in June. The damages requested in the claims total over 1 billion rubles.

Earlier the bank told RIA Novosti that it "is following its plan on protecting its legitimate interests".

According to the source, the plaintiff is seeking the repayment of the outstanding principal amount plus interest under the 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 former Bank of Moscow President Andrey Borodin owns the companies being sued.

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Bank of Moscow's $26.3 mln action against winery to resume on February 9

17:26 26/12/2011 On Monday the commercial court postponed its hearings into Bank of Moscow's lawsuit against Milstream Black Sea Wines to recover $26.3 million in debt until February 9.
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