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Ex-manager of Otkritie ordered to pay over $400k to bank

13:24 02/07/2019

MOSCOW, July 2 (RAPSI) – The Ninth Commercial Court of Appeals has upheld recovery of 26 million rubles (over $400,000) from the former senior vice-president of Otkritie Nikolay Yarovoy on the bank’s claim, according to court records.

The court has dismissed the manager’s appeal against the Moscow Commercial Court’s ruling of April 5.

In August 2018, the bank lodged several claims against nine ex-managers including the former senior vice-president of Otkritie Nikolay Yarovoy, ex-board members Yelena Budnik and Tatyana Serebrennikova. The bank sought to invalidate certain deals and recover the money from the defendants.

The court has already dismissed the bank’s demand to collect 40 million rubles (over $600,000) from the former top manager of Otkritie Constantine Chigirev and 32.6 million rubles from Budnik.

On August 29, 2017, the Central Bank of Russia imposed temporary administration in Otkritie Bank. However, it was reported that the bank would continue work in the ordinary course.

Otkritie Bank was founded in December 1992.  It is one of Russia’s top major banks and is a systemically important institution. Otkritie Bank has 364 offices, located in 55 constituent entities of Russia, according to the financial organization’s website. 


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Ex-manager of Otkritie ordered to pay over $400k to bank

13:24 02/07/2019 The Ninth Commercial Court of Appeals has upheld recovery of 26 million rubles (over $400,000) from the former senior vice-president of Otkritie Nikolay Yarovoy on the bank’s claim.
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