MOSCOW, March 11 - RAPSI. The courts have upheld 393 lawsuits filed by International Industrial Bank (Mezhprombank or MPB) to collect debts worth around 323 billion rubles ($10.5 billion), the bank's bankruptcy receiver, Deposit Insurance Agency, told RAPSI on Monday.
A total of 440 lawsuits worth around 370 billion rubles ($12 billion) were filed as part of the MBP bankruptcy case, and 229 court enforcement proceedings were launched for a total claim of 180.3 billion rubles ($5.86 billion).
MPB, the main financial asset of Federation Council Member Sergei Pugachyov, was declared bankrupt on November 30, 2010. The DIA was appointed its bankruptcy receiver.
The Central Bank revoked MPB's license on October 5, 2010 for failing to comply with its requirements and to meet its creditors' demands. Its biggest creditor was the Central Bank itself, to which MPB owed 31.8 billion rubles in unsecured loans.
In late July 2010, the Central Bank decided to restructure MPB's debt by extending the deadline for payment until January 1, 2011 and turning the unsecured debt into debt secured by shipbuilding assets belonging to Pugachyov's United Industrial Corporation (OPK).
However, these measures proved unable to help Mezhprombank. The Central Bank still retains the pledge, the price of which is still being disputed. The Central Bank has now filed a suit to take over the pledged stake.