The Moscow Commercial Court has suspended on Thursday until May 21 its hearing of the Bank of Moscow’s $28.2 million lawsuit against the Millstream Black Sea Wines winery.
Earlier, the parties said they were negotiating the settlement. The bank said on Thursday that the parties need time to finalize debt restructuring issues. In this regard, the bank asked the court to suspend the case once again. The settlement is expected to be submitted to the court during the next hearing.
Switzerland’s law enforcement authorities have not submitted any applications to the Russian Foreign Ministry in the case of former Bank of Moscow head Andrei Borodin, RIA Novosti reported on Tuesday, citing a source in the ministry.
The media reported earlier that Switzerland suspects Borodin of money laundering and has already sent Russia a proposal to investigate possible financial crimes.
Borodin and his former deputy Dmitry Akulinin have been placed on the international wanted list on suspicion of committing crimes when they headed the Bank of Moscow.
The court issued arrest warrants for the both in absentia.
The Moscow Commercial Court will consider on May 12 two Bank of Moscow lawsuits to collect from Premier Estate and TD Ramenskaya almost $7 million in loan debt.
On Monday, the court held a preliminary hearing of the lawsuits over loans provided to TD Ramenskaya and guaranteed by Premier Estate.
Four lawsuits filed by former Bank of Moscow president Andrei Borodin have been transferred from the Tverskoy District Court to the Savyolovsky District Court in Moscow as previous defendant was replaced by the Kommersant newspaper, Borodin’s attorney Alexander Arutyunov told the Russian Legal Information Agency (RAPSI/rapsinews.ru) on Tuesday.
Moody’s international ratings agency believes that the deposit and debt ratings of Russia’s state-controlled VTB Bank could be decreased, if capitalization, asset quality and liquidity worsen, according to the agency’s provisional survey released late Monday.
The bank’s ratings could also be decreased if the government cuts its holding, which could lead to a drop in the level of state financial aid, the agency also said.
The Moscow Times
VTB has made a decision on what to do with development projects it received along with Bank of Moscow.
Two major projects — the River Mall shopping center and a mixed-use complex on Olimpiisky Prospekt — will go to Hals-Development, in which VTB holds a controlling stake, according to consultants working on the projects.
The Russian government has appointed former first deputy CBR chairman Gennady Melikyan its representative at VTB Bank’s supervisory board. As an independent director was also nominated Leonid Melamed, deputy board chairman at AFK Sistema, a relevant order was posted on the government’s web site.
As representatives of the Russian Federation in VTB Bank’s supervisory board were also nominated the bank’s current supervisory board chairman Sergey Dubinin, VTB Bank CEO Andrey Kostin, Deputy Finance Minister Alexey Savatyugin, director of the department at the Finance Ministry of Russia Alexey Uvarov and first deputy CBR chairman Alexey Ulyukaev.
Russian law-enforcement agencies have opened a criminal case against unnamed employees of the Bank of Moscow for a 540 million ruble fraud, a source close to the bank said Friday, as cited by RIA Novosti.
The source said that the Bank of Moscow’s employees and other unidentified persons stole 540 million rubles from the bank under the guise of foreign exchange transactions in 2009–2010.
By Con Coughlin, The Telegraph
UP to 30,000 bankers, businessmen and financiers have been driven out of Russia by Vladimir Putin’s ever-tightening grip on the country’s political and commercial life, according to a prominent exile at the centre of a major banking controversy.
Russians who have been forced to live overseas also estimate that tens of billions of pounds worth of assets have been illegally seized by the Russian government as Mr Putin has strengthened his powerbase.
According to Andrey Borodin, the former head of the Bank of Moscow, the talent drain will only increase when Mr Putin, currently prime minister, runs for re-election as president in March – a poll he is almost certain to win.
“We call ourselves Putin’s exiles,” he said in an interview with the Daily Telegraph, his first since fleeing Russia last year.
By Con Coughlin, The Telegraph
I fear that Vladimir Putin’s confirmation that he is to seek re-election as Russia’s president does not bode well for the future of Anglo-Russian relations. Within days of Mr Putin declaring his intention to re-occupy the Kremlin the first warning shot has been fired at Britain in the form of an official demand for Britain to extradite 43 Russian citizens who have fled to the UK.
The Russian ambassador, Alexander Yakovenko, claims the mass extraditions will help to improve relations between the two countries. I regard it as nothing more than a blatant act of intimidation against David Cameron following his recent, inconclusive, visit to Moscow.
The main purpose of Mr Cameron’s visit was to initiate a thaw in the frosty relations that have existed between London and Moscow ever since Russian intelligence officers were implicated in the 2006 assassination of dissident ex-KGB officer Alexander Litvinenko, who was poisoned with polonium at a London hotel. Russia has consistently refused to hand over Andrei Lugovoi, the main suspect in the case.
But rather than making any admission of guilt, the Russians have resorted to their usual bully-boy tactics by demanding that Britain extradite the exotic assortment of Russian billionaires and pro-democracy campaigners who have sought refuge in London.
The latest senior Russian official to fall foul of the Kremlin is Andrei Borodin, the former chief executive officer of the Bank of Moscow, who has gone into hiding after the Russian government accused him of irregularities relating to a $400 million loan. But Mr Borodin claims he is the victim of a politically-motivated takeover of the bank.Кон Кафлин (Con Coughlin)