MOSCOW, April 23 - RAPSI. MDM Bank has withdrawn $12.9 million of its $15.9 million in claims against the Peresvet development group. In the lawsuit, the bank seeks to recover funds under loan agreements.

The application was filed during a hearing on Monday.

According to earlier reports, Peresvet companies repaid their principal debt of $8.9 million. The bank has also dropped its claims for $4 million in penalties.

Peresvet has settled another debt equal to $22.025 million under lending arrangements entered into in 2007.

In a similar MDM lawsuit, the Moscow Commercial Court collected from the developer $55.943 million on April 19, 2001.

The group's head company Peresvet-Invest was founded in 1995 as a real estate agency. It has in its portfolio completed and incomplete projects accounting for 1.8 million square meters of floor space in Moscow and in the provinces.