MOSCOW, February 13 - RAPSI, Sergei Feklyunin. A commercial court will hear the Bank of Moscow's three lawsuits worth a total of $102.3 million against the Insurance Group in March.

The bank's largest lawsuit worth 1.418 billion rubles ($47.4 million) will be heard on March 13. A 1.16 billion ruble ($38.8 million) lawsuit will be considered on March 2 and a 480.7 million ruble ($16 million) lawsuit will be reviewed on March 5.

The latter two lawsuits were submitted to the court on December 16.

The Insurance Group owns 50 percent plus one share in the Metropolitan Insurance Group.

The Metropolitan Insurance Group is an insurance holding comprising the MSK Insurance Group, the Moscow Reinsurance Association and MSK-Life.

The Bank of Moscow receives bailout funds from the Deposit Insurance Agency and the VTB Group, which owns 94.8 percent of the Moscow Bank. The Bank of Moscow's grave credit troubles were uncovered as the result of an audit initiated by VTB. The Deposit Insurance Agency used the Central Bank's funds to grant 295 billion rubles to the Bank of Moscow at a preferential rate. The bank spent the funds on federal loan bonds. The Bank of Moscow managed to patch up its balance using the interest rate spread.
VTB acquired a stake in the MSK Insurance Group in December and increased its stake in the Bank of Moscow to 92.22 percent.