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Basketball federation's $1.9 mln suit against league set on March 28

13:53 07/02/2012

MOSCOW, February 7 - RAPSI. A commercial court set March 28 for primary hearings of a lawsuit filed by the Russian Basketball Federation to recover $1.94 million from autonomous non-commercial organization United Basketball League, the organizer of VTB United League championship, the Russian Legal Information Agency (RAPSI/rapsinews.com) reported from the court on Tuesday.

The plaintiff seeks to recover the amount of pledge and unjust enrichment, terminate the donation contract, cancel the donation, return the funds, which were not used on purpose and also terminate the contract on advertizing services. The federation told in court that the money was allocated to the league for holding 2009/2010 VTB United League championship .

The plaintiff claims that the league has not provided a report confirming that the money was spent in accordance with the designation.

The league's lawyers said that the federation entered into a sponsorship contract with VTB Bank on holding the championship and the league was, in fact, a subcontractor.

According to the league it provided its reports to the bank. VTB was satisfied and continued its cooperation with the league.

The defendant requested involving VTB Bank as a third party, but the plaintiff objected. "It is only about the relations between the federation and the league, the bank's rights should not be affected".

VTB Bank is Russia's second-largest bank in terms of assets. It was established in October 1990. The state owns an 85.5-percent stake in the bank.

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Basketball federation's $1.9 mln suit against league set on March 28

13:53 07/02/2012 A commercial court set March 28 for primary hearings of a lawsuit filed by the Russian Basketball Federation to recover $1.94 million from autonomous non-commercial organization United Basketball League, the organizer of VTB United League championship.
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