Russian depositors began arresting assets of Cypriot banks in the Russian Federation

The investor Cyprus Popular Bank through the court secured the arrest of its assets in Russia, including a controlling stake Rosprombank, reported today "Vedomosti". The plaintiff is seeking the return of money frozen in the accounts of the Bank of Cyprus.

A citizen of Russia G. Borisov asked the Presnensky court of Moscow in early April with a lawsuit against the Cyprus Popular Bank, acting under the name Cyprus Laiki Bank.

 

As the "Vedomosti", as security for a claim has been arrested for a controlling stake (50.4%) in Rosprombank parent company ZAO "RPB-Holding", owned Cyprus Popular Bank. Also arrested were the funds on correspondent accounts in the Bank of Cyprus Rosprombank.

Partner of the law firm "Justin" Vladimir Pletnev explained that the decision to cancel the arrest may be made by a higher court. "We are talking about the share of the foreign bank in the Russian capital, and if it is foreclosed, you may have a conflict of jurisdictions, and how it is resolved — no one knows" — Said the lawyer, "Vedomosti". According to him, all claims against the Bank of Cyprus, the Russians will apply on an individual basis, and "the biggest piece" will receive the one who went to court first. The requirements of all creditors Cyprus Popular Bank will not be able to meet.

In accordance with the decision of the authorities of Cyprus, Laiki Bank should be restructured and closed. Moreover, its depositors lose all the accounts of more than € 100 thousand and will be able to receive compensation only if the profitable sale of assets. Thus, the newspaper notes, the proportion of Cypriots Rosprombank also be sold.

"Cypriots for several months trying to negotiate the sale of shares by the second owner of the bank — Mikhail Nikolayev. They offered him to buy back their share, sell the asset together, otherwise it will only look for an investor to share ", — told the publication on the condition of anonymity, one banker familiar with the situation.

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