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$2.9 billion claim against Mezhprombank rejected

15:12 22/04/2013

MOSCOW, March 22 (RAPSI) - The Moscow Commercial Court has rejected banker Sergei Yarmolinsky's lawsuit that seeks to add his 91.829 billion ruble ($2.9 billion) claim to the list of Mezhprombank creditors, the court told RAPSI on Monday.

The court has only included a 1,900 ruble ($60.40) claim from Yarmolinsky.

The Moscow Commercial Court rejected Yarmolinsky's initial claim on June 20, 2011. After the appeals and cassation courts upheld the ruling, he appealed to the Supreme Commercial Court, which refused to forward the case to its presidium for review on March 30.

The plaintiff then filed another appeal. In October 2012, the Supreme Commercial Court Presidium sent the case for review.

Yarmolinsky claims that he deposited 3,226 rubles ($103 at the current exchange rate) at 130 percent per annum in Mezhprombank in February 1994. The interest was to accrue on a quarterly basis.

However, Yarmolinsky said the bank never added interest to the deposit. In 2003, he attempted to withdraw his money, but the bank refused to release the funds.

The current proceedings involve claims dated from July 1, 1994 until the third quarter of 2009. The Deposit Insurance Agency, acting as the receiver at Mezhcombank, has only included 5,726 rubles ($180) in the register of creditors' claims. According to the agency, the bank never committed to pay any interest, Yarmolinsky stated.

Yarmolinsky is a well-known banking executive and has served as vice president of Guta Bank and deputy general director of Norilsk Nickel.

Mezhcombank was stripped of its banking license on Oct. 5, 2010 and recognized as bankrupt on November 2010.

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$2.9 billion claim against Mezhprombank rejected

15:12 22/04/2013 The Moscow Commercial Court has rejected banker Sergei Yarmolinsky's lawsuit that seeks to add his 91.829 billion ruble ($2.9 billion) claim to the list of Mezhprombank creditors.
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