MOSCOW, October 12 - RAPSI. The application for the bankruptcy of Uniastrum Leasing, a Bank of Cyprus subsidiary, is unrelated to its financial status, but is intended to manipulate public opinion using paralegal methods, reads the Uniastrum Bank's statement made available to the Russian Legal Information Agency (RAPSI/rapsinews.com).

The Moscow Commercial Court registered the bankruptcy application filed by Soglasiye Stroyinvest corporation on October 9.

According to the bank, Soglasiye Stroyinvest is bankrupt and is a debtor of Uniastrum Leasing. The court has estimated its debt owed to Uniastrum Leasing as of today at 56.9 million rubles ($1.9 million) out of its 346.9 million ruble ($11 million) total debt.

Uniastrum's statement says that the application filed by Soglasiye Stroyinvest is very surprising as the bank had not been issued any claims or writs of execution, which are required by law.

Established in 2003, Uniastrum Leasing has been part of the Bank of Cyprus group since 2008. Its balance-sheet total amounted to 890 million rubles ($28.6 million) as of July 1, and its six-month sales profit in 2012 reached over 24 million rubles ($770,000).