MOSCOW, December 20 - RAPSI. A commercial court has registered two bank of Moscow's lawsuits totaling $51.2 million against Strakhovaya Gruppa, according to the court's website.

Strakhovaya Gruppa is a major shareholder of Stolichnaya Strakhovaya Gruppa, holding 50 percent minus one of its shares. Stolichnaya Strakhovaya Gruppa manages an insurance holding company that includes Strakhovaya Gruppa MSK, the Moscow Reinsurance Company and MSK- Life.

The bank filed two lawsuits against the insurer - one for 480.7 million rubles ($15 million) and the other for 1.16 billion rubles ($36.2 million).

The Bank of Moscow is presently restructuring its finances with the assistance of the Deposit Insurance Agency and the VTB Group. An inspection initiated by VTB, the bank's new shareholder, uncovered bad loans in its credit portfolio.

The Deposit Insurance Agency allocated a 295 billion ruble loan to the Bank of Moscow at the expense of the Central Bank's reserves. The loan was granted for 10 years at a discounted rate. The loan was then invested in federal loan bonds, which helped to close the gap in the bank's finances.

Last week, VTB raised its share in the Bank of Moscow from 80.57 to 92.22 percent by acquiring shares from Strakhovaya Gruppa MSK.