MOSCOW, October 25 (RAPSI) – The Tenth Commercial Court of Appeals has upheld a lower court’s decision to dismiss an appeal filed by Russia’s Deposit Insurance Agency (DIA) seeking to seize property of Clientsky bank top managers evaluated at over 10 billion rubles ($145.1 million), the court documents read.

The DIA challenged the July 31 ruling of the Moscow Commercial Court. Back then the court did not find evidence for the claim that failure to seize the property is going to complicate execution of the court’s rulings in the future.

In October 2015, Clientsky was declared bankrupt. Audit of the bank’s property found that there are 15.2 billion rubles ($220.6 million) missing. Later examination conducted by the DIA revealed that top managers of the bank gave away loans to legal entities and persons, who were not involved in economic activity and were not able to pay back.

In August 2015, the Central Bank of Russia stated that ex-management of Clientsky did not provide temporary administration of the bank with documents preventing debt recovery. This information was transferred to law enforcement authorities.