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Troika Dialog appeals pension fund's $5.4 mln judgment

13:54 13/09/2011

MOSCOW, September 13 - RAPSI, Natalia Belova. An appellate court will hear on October 3 the appeal filed by Troika Dialog, one of Russia's top investment companies, against a non-governmental pension fund's $5.4 million award, a court official told the Russian Legal Information Agency (RAPSI).

A commercial court fully satisfied the pension fund's lawsuit against Troika Dialog for 151 million rubles ($5.4 million) in July. The pension fund had sought to recover 147,297,000 rubles in principal debt and 3,746,000 rubles in interest.

The suit stemmed from a trust management agreement between the two parties, whereby Troika Dialog agreed to manage funds and securities transferred to it by the pension fund, as the fund's trustee. The agreement expired in December.

The pension fund maintains that its return at the end of the trust agreement was 147 million rubles less than what it had transferred to Troika Dialog, while the law required the return to have been at least equal in value to what was transferred.

Troika Dialog is a leading investment company on the C.I.S. market. The company was established in 1991. Its core business is securities trading, investment and banking services, trust management, private investment and finances.

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Troika Dialog appeals pension fund's $5.4 mln judgment

13:54 13/09/2011 An appellate court will hear on October 3 the appeal filed by Troika Dialog, one of Russia's top investment companies, against a non-governmental pension fund's $5.4 million award.
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