MOSCOW, Janaury 27 (RAPSI) – Businessman Konstantin Malofeyev, head of Marshall Capital, filed a $600 million lawsuit against Russia’s second largest bank, VTB, with the London High Court, Vedomosti business daily reports on Monday.

According to Vedomosti’s source, Malofeyev assessed the $600 million damage as lost profit from the previously imposed injunction on a Rostelecom stake as part of a lawsuit by VTB.  The injunction prevented Malofeyev from participating in the formation of Garsdale holding, led by Alisher Usmanov.

Malofeyev confirmed this statement, and added that the lawsuit was filed in June 2013.

MarCap's assets, including a 10% stake in the Rostelecom state fixed-line operator, were frozen in August 2011 as part of a fraud case involving a $225 million loan that a VTB Bank subsidiary issued to Russagroprom in 2007 to finance the acquisition of assets from the Nutritek International Corp., a baby food producer registered in the British Virgin Islands.

Russagroprom defaulted on the loan. VTB then claimed that Malofeyev was the actual owner of Russagroprom and Nutritek.  The businessman denied the claims.

The UK Supreme Court refused to hear VTB's lawsuit and lifted the arrest injunction. However, VTB said the courts rejection does not annul the prior rulings of Cypriot and British Virgin Islands courts to arrest the assets, or the restrictions on disposing of the fund's assets imposed by a Cayman Islands court.