Russian court once more refuses to seize $100 million from Metrobank ex-managers
MOSCOW, November 2 (RAPSI) – The Ninth Commercial Court of Appeals has upheld a ruling of a lower court dismissing a request of Russia’s Deposit Insurance Agency (DIA) seeking seizure of property belonging to six former managers of Metrobank evaluated at 6.2 billion rubles ($100 million), the court ruling reads.
In August, the Moscow Commercial Court dismissed an application filed by the DIA.
According to the DIA, former managers of the bank provided credits to technical legal entities, which were not involved in economic activity on the scale of the provided funds and did not have property that could be used to pay off the debt. The DIA noted that these circumstances served as grounds for recovery of assets from the bank’s managers.
In July 2015, the Moscow Commercial Court declared Metrobank bankrupt.