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Court to hear appeal of $10 mln suit against former bank CEO

Tags: Russia, Moscow
16:05 30/12/2011

MOSCOW, December 30 - RAPSI. An appeal court has postponed until January 10 its hearing of an appeal against a court decision to recover $10.1 million from former Fundament-Bank CEO Vladimir Pogosov, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).

The case was delayed due to the judge falling ill.

The Moscow Commercial Court found in favor of Fundament-Bank's bankruptcy administrator in his 324.2 million lawsuit against Pogosov on October 20.

The Deposit Insurance Agency public corporation, which was earlier appointed as the bank's bankruptcy administrator, said Fundament-Bank went bankrupt as a result of Pogosov's failure to carry out his duties with due care and diligence.

The Deposit Insurance Agency made reference to the 12 loan contracts signed by the former CEO to prove its case.

The Moscow Commercial Court declared Fundament-Bank bankrupt on March 12, 2008.

Founded in 1992 Fundament-Bank operated four offices in Moscow.

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Court to hear appeal of $10 mln suit against former bank CEO

16:05 30/12/2011 An appeal court has postponed until January 10 its hearing of an appeal against a court decision to recover $10.1 million from former Fundament-Bank CEO Vladimir Pogosov, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).
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