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Bank of Moscow's $28 mln dispute with winery delayed until March 29

16:11 09/02/2012

MOSCOW, February 9 - RAPSI. The Moscow Commercial Court postponed on Thursday its hearings into the Bank of Moscow's lawsuit against Milstream Black Sea Wines to recover $28 million in debt until March 29, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

This is the largest of the 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 to protect its legitimate interests."

According to the source, the plaintiff seeks the repayment of the outstanding principal amount plus interest under loan agreements, as it is not a shareholder of its debtor, but rather its lender.

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

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Bank of Moscow's $28 mln dispute with winery delayed until March 29

16:11 09/02/2012 The Moscow Commercial Court postponed on Thursday its hearings into the Bank of Moscow's lawsuit against Milstream Black Sea Wines to recover $28 million in debt until March 29.
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