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Gazinvestbank wins 69 lawsuits for $78 mln

15:07 28/10/2011

MOSCOW, October 28 - RAPSI, Dmitry Shchitov. Courts have satisfied 69 lawsuits filed by Gazinvestbank's bankruptcy administrator for a total of $78 million, the Deposit Insurance Agency reports on Friday.

According to the agency, which was earlier appointed the bank's bankruptcy administrator, it filed 121 lawsuits against the bank's debtors to recover 3.71 billion rubles ($122.7 million). Courts have initiated 53 execution procedures amounting to 127 billion rubles.

The bankruptcy administrator received claims from 379 creditors in the amount of 3.69 billion rubles ($122 million).

The Central Bank revoked the bank's license on December 3, 2008 for the submission of false data and its inability to execute financial liabilities.

The Moscow Commercial Court declared Gazinvestbank bankrupt on February 3, 2009.

Gazinvestbank was established by major enterprises in the Tula Region and Mostransgaz in 1995. Its name at the time was the Tula Regional Bank. Since 1996, its controlling share has been held by the Bank for Development and Foreign Economic Affairs (Vnesheconombank).

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Gazinvestbank wins 69 lawsuits for $78 mln

15:07 28/10/2011 Courts have satisfied 69 lawsuits filed by Gazinvestbank's bankruptcy administrator for a total of $78 million.
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