MOSCOW, June 5 (RAPSI) – The Supreme Court of Russia has dismissed a cassation appeal filed by the former top manager of the Financial Corporation Otkritie Constantine Chigirev against a court order to recover over 40 million rubles (about $600,000) from him, according to court records.

In April 2019, the Moscow Commercial Court has dismissed a lawsuit filed by the Financial Corporation Otkritie demanding to collect 40 million rubles (over $600,000) from the bank’s former top manager Constantine Chigirev, according to court records.

In August 2018, the bank lodged several claims against nine ex-managers including the former senior vice-president of Otkritie Nikolay Yarovoy, ex-board members Yelena Budnik and Tatyana Serebrennikova. The bank sought to invalidate certain deals and recover the money from the defendants. 

On March 6, the court refused to invalidate a deal over an allegedly illegal bonus payment and collect 30 million rubles (about $500,000) from the former bank’s vice-president, security chief Sergey Babkin, upon the bank’s petition. Otkritie appealed against the commercial court’s ruling.

On August 29, 2017, the Central Bank of Russia imposed temporary administration in Otkritie Bank. However, it was reported that the bank would continue work in the ordinary course.

Otkritie Bank was founded in December 1992.  It is one of Russia’s top major banks and is a systemically important institution. Otkritie Bank has 364 offices, located in 55 constituent entities of Russia, according to the financial organization’s website.