MOSCOW, August 24 (RAPSI) – Russian Deposit Insurance Agency (DIA) has challenged a court decision dismissing its claim to freeze the assets owned by ex-managers of Investbank with the total worth of 40.5 billion rubles ($684 million at the current exchange rate), the materials of the Moscow District Commercial Court read on Thursday.

The Moscow Commercial Court rejected the DIA claim on the assets freeze on April 25 and June 7; the claimant now seeks to appeal these rulings on cassation.

DIA had petitioned to grant interim measures envisaging assets freeze in a lawsuit filed to recover the amount from the defendants saying the sum of recovery was significant and insisting the defendants could undertake to alienate their property. Nevertheless, the courts ruled DIA failed to substantiate these allegations.

Earlier, DIA had insisted that an investigation carried out by the official receiver into Investbank activities revealed signs of deliberate bankruptcy and that the amount to be recovered was calculated basing on outstanding claims of creditors.

According to a representative of the official receiver, at the instance of DIA a criminal case was opened against Investbank’s ex-managers, who were put in detention.

The operations of Investbank, the country's 84th largest bank by assets, were suspended on December 13, 2013. On March 4, 2014, the Moscow Commercial Court declared Investbank bankrupt.