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AMT Bank's $55 mln lawsuit against logistics park to be heard on April 10

13:16 17/02/2012

MOSCOW, February 17 - RAPSI, Sergei Feklyunin. A commercial court set April 10 to hear the $54.86 million lawsuit filed by Moscow's AMT Bank against the Kolpino Logistics Park, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Friday.

The Kolpino Logistics Park near St. Petersburg was established by Eurasia Logistics. The size of the park is roughly 580,000 square meters. Eurasia Logistics is a major Russian industrial and warehouse property developer owned by Kazakh businessman Mukhtar Ablyazov. It is a part of the Eurasia investment and industrial group. It has implemented the A-class Kolpino project since 2005.

AMT Bank (previously known as BTA Bank) is a multipurpose financial institution with nine branches and 26 offices. According to the RIA Analytics Economic Research Center, AMT ranked seventy-first in terms of assets as of April 1, 2011.

The Moscow Commercial Court upheld the Central Bank's petition for ATM Bank's bankruptcy in October 2011. The Deposit Insurance Agency (DIA) was appointed to act as the receiver of the failed bank. The Central Bank revoked AMT's license in July for forging account data. The banks deposit portfolio amounted to 15 billion rubles ($499.41 million). According to the DIA, it will pay a record 13 billion rubles ($432.82 million) to AMT's depositors.

According to the information on the bank's website, Ablyazov directly holds 19.7 percent of the credit institution. Ablyazov has been living in the United Kingdom since 2009. The police opened a criminal case against him on suspicion of fraud and withdraw of funds through shell companies.

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AMT Bank's $55 mln lawsuit against logistics park to be heard on April 10

13:16 17/02/2012 A commercial court set April 10 to hear the $54.86 million lawsuit filed by Moscow's AMT Bank against the Kolpino Logistics Park.
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