MOSCOW, August 24 - RAPSI, Dmitry Shchitov. The Ninth Commercial Court of Appeals has approved the settlement of a claim filed by Rosbank, a subsidiary of Societe Generale, and Banque Societe Generale Vostok against Nastyusha, a grain company, for 1.988 billion rubles ($69.1 million), the Russian Legal Information Agency (RAPSI) reported.
Details of the settlement have not yet been released. The court annulled all judicial acts in the case and terminated the proceedings.
The court on Wednesday satisfied Societe Generales petition for procedural succession. Rosbank substituted Societe Generale as a plaintiff in the case.
Nastyusha was founded in 1992. It consists of companies engaged in grain production, storage, and processing.
Banque Societe Generale Vostok was established in Moscow in 1993. The bank serves over 7,000 corporate and 360,000 private clients. Its net assets were valued at 138.5 billion rubles ($4.8 billion), while its share capital was worth 16.3 billion rubles ($563.9 million) as of January 1, 2011.