MOSCOW, April 16 (RAPSI) - Svyaznoy Bank filed at least three lawsuits with Moscow's Presnensky District Court accusing its founder, Maxim Nogotkov, of breaching loan terms, Vedomosti newspaper reported on Thursday, citing sources familiar with the situation.
The lawsuits are related to a 120 million ruble ($2.4 mln) loan that Nogotkov took out with Svyaznoy Bank before problems with creditors occured, according to the newspaper.
The bank reportedly requested the loan be repaid months ago but that Nogotkov refused.
The bank was formerly known as Industrial and Trade Bank Promtorgbank. It changed its name to Svyaznoy Bank in October 2010. The company was founded in 1992 and is based in Moscow with regional branch offices over Russia.
The Central Bank has been closely watching Svyaznoy Bank after its clients started withdrawing deposits since late last year.
In late November, the bank attracted a subordinated loan of 11 million euros from entities related to Finprombank’s co-owner, Anatoly Goncharov.
In March Svyaznoy Bank put its 22 billion rubles overdue loans portfolio up for sale.
The bank was restricted by th regulator from receiving any further deposits last week.
