MOSCOW, September 19 (RAPSI) – The Moscow Commercial Court has ruled to recover almost 1.4 billion rubles ($21.5 million) from Cypriot offshore Belenfield Trade Limited in favor of Trust Bank, the court’s documents read on Monday.

According to the documents, demands of the bank were based on two agreements regarding emergent deals at financial market, signed in June 2013 and January 2014. Several contracts were signed as part of these agreements, which led to a debt.

Hearings were condoned without representatives of defendants.

This is not the first claim Trust Bank has filed against various offshore firms. Yet on April 27, the Ninth Commercial Court of Appeals confirmed the recovery of over 2 billion rubles ($29 million) from Cyprus-based Siberiankd Timber Enterprises Limited as requested in a claim put forward by Trust Bank.

Altogether, for the first half of 2015, Trust bank filed about 20 lawsuits against companies registered in the offshore jurisdictions worth over 32 billion rubles ($464.5 mln) and over $94 million. Business media outlets reported that some of these companies were associated with the former owners of the bank.

In late December 2014, the Central Bank of Russia decided to reorganize Trust Bank, which at that time was on the list of the top 30 Russian banks, placing it under the temporary supervision of the Deposit Insurance Agency. FC Otkritie Bank, part of Otkritie Holding, was selected as a bridge bank.