MOSCOW, January 25 (RAPSI) – The Eighteenth Commercial Court of Appeals will review an appeal filed by The Royal Bank of Scotland against a lower court’s refusal to recover $296.6 million in debt from nine Chelyabinsk regional companies, the court documents read.

Hearings over the appeal are set for February 20.

On November 30, the Chelyabinsk Regional Court ruled that the plaintiff missed the statute of limitation under Russian law and dismissed the lawsuit.

This case is reviewed for the second time.

In May 2015, the Chelyabinsk Regional Court ruled to seize property of the defendants as part of the lawsuit. Regional companies were listed as guarantors in the contract signed between the Royal Bank of Scotland and Lavion Enterprises Ltd, a company registered at British Virgin Islands. In February 2016, the court recovered $296.6 million from the defendants.

In November 2016, the Eighteenth Commercial Court of Appeals upheld the ruling to recover debt.

In March 2017, the Ural District Commercial Court ruled to review the case once more