MOSCOW, June 20 (RAPSI) – The Commercial Court of St. Petersburg and Leningrad Region has dismissed a claim for vicarious liability filed by a former co-owner of Sovetsky bank against the bank’s ex-board chair Robert Musin and two other top managers of the financial organization, according to court records.

Vladimir Mitrushin has also asked the court to bring to liability officials of the Central Bank of Russia involved in appointment of Tatfondbank formerly chaired by Musin as a bridge bank for Sovetsky. However, he has proposed to determine the amount of the subsidiary liability for officials after completion of settlements with creditors as part of the Sovetsky insolvency case.

The court has therefore shelved the application.

Musin was declared bankrupt in July 2018. Earlier, the court initiated a procedure of restructuring Musin’s debt. The Deposit Insurance Agency (DIA) sought 16.7 million rubles ($255) from the banker.

Notably, Musin is charged with embezzlement. According to investigators, in August 2016, employees of the bank provided false data to the Central Bank of Russia to obtain a credit and subsequently embezzle the funds. Later, the money was transferred to the accounts of affiliated companies.

Sovetsky was declared insolvent on August 28, 2018.