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Hearing of Bank of Moscow's claim against former CEO's asset postponed

15:04 13/02/2013

MOSCOW, February 13 - RAPSI. The Moscow Commercial Court has announced the postponement of the hearings in the Bank of Moscow's 2.5-billion-ruble lawsuit against River Mall until February 15, the court told RAPSI on Wednesday.

Media have linked the company with the bank's former co-owner, Andrei Borodin.

The bank said the defendant failed to perform the conditions of a credit agreement, which prompted the bank to take legal action. River Mall's total debts included 2 billion rubles in principal debt, interest payments and forfeit penalties.

In 2012, the court collected over 870 million rubles from the bank in two lawsuits. In July, the Federal Tax Service attempted to declare River Mall bankrupt and filed a petition with the court. However, the bankruptcy case was never launched.

Earlier, media reported that the company is part of Kuznetsky Most Development, which was linked to Borodin, who has denied having a link with the firm.

According to media, although VTB Bank consolidated almost 95% of the shares of the Bank of Moscow, to which Kuznetsky Most Development owed a debt, the VTB Bank-controlled HALS-Development may become River Mall's new owner.

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Hearing of Bank of Moscow's claim against former CEO's asset postponed

15:04 13/02/2013 The Moscow Commercial Court has announced the postponement of the hearings in the Bank of Moscow's 2.5-billion-ruble lawsuit against River Mall until February 15.
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