Russian court rules to seize property of MAST-Bank’s former managers worth $205 mln
MOSCOW, July 30 (RAPSI) – The Ninth Commercial Court of Appeals has seized the property of three ex-managers of MAST-Bank worth 13,1 billion rubles (about $205 million) on a motion filed by the Deposit Insurance Agency (DIA), the court’s decision reads.
The injunctive relief sought by DIA directly related to the subject of dispute and asserted claims; it was proportional and ensured the balance of interests of the parties, according to the court.
It was the second time DIA sought an injunctive relief in the case.
The court has annulled a decision of the Moscow Commercial Court, which partially dismissed a request of DIA seeking to seize property of 21 ex-managers of MAST-Bank. At that time the lower court seized the property of only 12 of the respondents.
In September 2018, the Ninth Commercial Court of Appeals upheld the dismissal of the DIA petition to size the bankers’ property. According to the court, the applicant failed to provide sufficient evidence to support its claims. It was stated that arguments of the DIA were based on speculation and could not be taken into account by the court.
The bank was declared bankrupt in August 2015. During the bankruptcy procedure it was found that the bank’s management made several deals exchanging the bank’s assets with unpayable debts of individuals and legal entities. It was also found that the bank did not take measures to prevent its bankruptcy.
Earlier, ex-president of now insolvent MAST-Bank Yury Pirogov and two other ex-managers pleaded not guilty to embezzlement of 5.6 billion rubles ($90 million).
Investigators believe that in 2013-2015 the defendants stole funds by giving out non-performing credits to companies under their control and then transferred money further to other organizations.
Earlier, the court sentenced ex-top manager of the bank Alexander Chemetov to 4.5 years in a penal colony. Chemetov admitted his guilt in full.