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Trust bank sues restaurant owner for $13 million

12:53 30/06/2015

MOSCOW, June 30 (RAPSI) – National Bank Trust has filed a lawsuit to collect 710.3 million rubles ($12.8mn) in debt from NRT Holdings Limited, the founder of Yaposha City operator of Yaposha restaurants, the Moscow Commercial Court said on Tuesday.

A preliminary hearing has been set for November 10.

According to business media, NRT Holdings Limited (Cyprus) is the sole owner of Yaposha City. National Bank Trust owns 19 percent of the Cypriot company, about 62 percent belongs to Yaposha Investments Limited, and the rest is divided among several offshore minority holders.

The bank has also asked the court to approve an injunction to prohibit the termination of license agreements between NRT Holdings Limited and Yaposha City and the transfer of the exclusive rights to Yaposha, Япоша, Япошка and other trademarks to third parties.

The court dismissed the injunction.

Midsized lender Trust Bank reported losses of 18.8 billion rubles ($377.6 million) in 2014 amid a financial crisis. As of December 1, 2014, its assets were estimated at over 290 billion rubles ($5.8 billion).

The Central Bank estimated that the bank’s debts exceeded the value of its assets by 67.8 billion rubles ($1.2bln).

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Trust bank sues restaurant owner for $13 million

12:53 30/06/2015 National Bank Trust has filed a lawsuit to collect 710.3 million rubles ($12.8mn) in debt from NRT Holdings Limited, the founder of Yaposha City operator of Yaposha restaurants.
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