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Mezhprombank seeks over $13.5 mln from former senator

17:10 29/05/2012

MOSCOW, May 29 - RAPSI. The International Industrial Bank (Mezhprombank) has filed a $13.5 million claim against former Senator Sergei Pugachyov, Moscow district court spokeswoman Yulia Katayeva told the Russian Legal Information Agency (RAPSI/rapsinews.com).

Katayeva said the bank sued Pugachyov for failing to pay a promissory note worth $1.040 million.

The court accepted the claim and scheduled the hearings for June 28.

In October 2010, the Central Bank stripped Pugachyov's International Industrial Bank of its license. The former senator then failed to patch up relations with the bank's Russian and foreign creditors.

The International Industrial Bank has long been a top bank in Russia as it had already built its charter capital up to record 25 billion rubles ($785.5 million) in 2000.

The Central Bank was a major creditor of Pugachyov's bank.

In summer 2010, the Central Bank made the unprecedented move of extending by six months its 32 billion ruble ($1 billion) loan to the bank until January 1, 2011.

The bank took Pugachyov's shipbuilding assets as a security for the loan. However, the International Industrial Bank failed to repay the debt and the Central bank retained pledged shares. The International Industrial Bank was declared bankrupt in 2010 and is undergoing bankruptcy proceedings.

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Mezhprombank seeks over $13.5 mln from former senator

17:10 29/05/2012 The International Industrial Bank (Mezhprombank) has filed a $13.5 million claim against former Senator Sergei Pugachyov.
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