MOSCOW, November 10 (RAPSI) – Russia’s Intellectual Property Court (IP Court) affirmed on Thursday the dismissal of a claim which had been brought by Colvir Software Solution Ltd. seeking $1.1 million from MTS Bank, RAPSI learnt in the court on Thursday.

Colvir Software Solution Ltd. and MTS Bank entered in 2008 into a software license agreement.

Colvir Software Solution Ltd. alleges that MTS Bank failed to meet the terms of the agreement and claims over $1 million in damages.

The Moscow Commercial Court dismissed the suit in April 2015. The ruling was later upheld by the Ninth Commercial Court of Appeals.

After examining the case, the courts ruled the claim ungrounded, as Colvir Software Solution Ltd. did not provide required elements of the licensed software.

According to the company’s website, Colvir Software Solutions Ltd. was established in Great Britain as a software company with its business focus in the development, implementation and support of end-to-end integrated solutions designed to automate the core business, financial and administration activities of banks, post offices, other businesses and public finance institutions.