MOSCOW, November 8 (RAPSI) – Raiffeisenbank secured a U.S. court order granting its application to obtain evidence and documents from Ilya Zubarev, a co-founder and shareholder of Rolsen Group, which might be substantial for insolvency and debt collection proceedings against Rolsen Group companies in Russia.
Raiffeisenbank filed the application seeking evidence and documents with the U.S. District Court for the Northern District of California in September.
Raiffeisenbank which claims to be one of the largest banks in Russia, lodged its application on the grounds that Zubarev serves as senior partner of Runa Capital, board member of Acronis Inc., both located in San Francisco, and founding partner of Quantum Wave Fund, which is located in Palo Alto (California).
The bank turned to the U.S. court amid proceedings it is currently involved in Russian commercial courts as TV-Alliance LLC, the main operational company of Rolsen Group, defaulted on $19.8 million of debt.
A number of other Rolsen Group companies, including Videofon, Vitta, Vargis, Sovershennaya Tekhnika, and Standard & Western Trading are also involved in the proceedings as “collateral providers.”
Thus, in December 2015, Raiffeisenbank turned to the Moscow Commercial Court launching insolvency and debt collection proceedings against TV-Alliance and Vitta. As a result, a monitoring procedure was introduced at TV-Alliance. The next hearing in the case against TV-Alliance is set for November 21.
The claim against Vitta was granted in April. The ruling was upheld in June by the Ninth Commercial Court of Appeal. Vitta opted to further challenge the ruling.
This February the bank lodged a claim against Standard & Western Trading with the Moscow Commercial Court. In June Raiffeisenbankwent after Vargis.
The bank filed a lawsuit against Sovershennaya Tekhnika in June with the Kaliningrad Commercial Court.
By a ruling of the Voronezh Region Commercial Court a monitoring procedure was introduced at Videofon. The next hearing in the case is set for December 21.
The bank seeks discovery from Zubarev about the corporate structure of the Rolsen Group, its assets, intragroup and external transfers of funds, and circumstances of the default.
