MOSCOW, September 3 (RAPSI) – Russia’s Supreme Court has returned a complaint of Ukrainian Prominvestbank about the recovery of a $60 million debt arising from an assignment agreement in favor of Moscow CaptialYugInvest company without consideration, according to the body’s decision.

The claimant, Public Stock Company Joint-Stock Commercial Industrial and Investment Bank (Prominvestbank), petitioned to reset the time limit for submitting its complaint citing coronavirus-related restrictions and lack of familiarity with appeal procedures due to the fact it was a foreign entity; however, the Supreme Court rejected these arguments saying Prominvestbank was a participant in a case heard by Russian commercial courts and therefore was bearing non-familiarity risks.

Moreover, all court decisions should have been known to the claimant via its representative at the hearings and due to the fact that all such decisions were sent to it in e-formats and were freely available on the internet, the decision reads.

Prominvestbank challenged in Russia’s Supreme Court a decision of the Moscow Commercial Court of October 15, 2019, as well as decisions of an appeals and cassation instances.

Earlier, the lower courts established that Prominvestbank failed to meet the terms of an agreement it made with CapitalYugInvest.