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Boris Abramovich loses 42 mln euro to state development bank

13:47 14/11/2011

MOSCOW, November 14 - RAPSI. A Moscow district court awarded on Monday 42 million euro to the Bank for Development and Foreign Economic Affairs (VEB) from businessman Boris Abramovich, the Russian Legal Information agency (RAPSI) reports from the courtroom.

The court has satisfied the claims in full.

The motivation was not stated in the court ruling. The parties denied to comment, referring to their corporate policy.

The decision may be appealed within 10 days.

The statement of claims reads that VEB provided 42 million euro to the AirBridge Zrt consortium under Abramovich's guarantee. According to the bank, AirBridge Zrt and the guarantor did not repay the loan. AirBridge Zrt is involved in the litigation as a third party.

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Boris Abramovich loses 42 mln euro to state development bank

13:47 14/11/2011 A Moscow district court awarded on Monday 42 million euro to the Bank for Development and Foreign Economic Affairs (VEB) from businessman Boris Abramovich.
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