MOSCOW, October 16 (RAPSI) - The Moscow Commercial Court on Friday ordered Cyprus-based Baymore Investments Limited to pay Trust Bank over 3.4 billion of rubles ($54 million) and $58.6 million, the court’s statement reads.

Previously the court has ordered Cypriot firm to pay Trust Bank $107 million. Other Cyprus-based companies also have to pay the Trust Bank: Erinskay Investment Limited has to pay $113.5 million, Mourija Trading Limited - $32 million, Siberiankd Timber Enterprizes Limited - over 2 billion rubles (about $32 million).

For the first half of 2015, Trust bank filed about 20 lawsuits against companies registered in the offshore jurisdictions worth over 32 billion rubles ($510 million) and over $94 million. Business media outlets reported that some of these companies were associated with the former owners of the bank. 

Midsized lender Trust Bank reported losses of 18.8 billion rubles (about $300 mln) in 2014 amid the financial crisis. As of December 1, 2014, its assets were estimated at over 290 billion rubles ($4.6bln).

The Central Bank estimated that the bank’s debts exceeded the value of its assets by 67.8 billion rubles ($1 bln).