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Ex-Otkritie group senior managers appeal ruling over $1.5 billion frozen assets

16:05 15/07/2021

MOSCOW, July 15 (RAPSI) — JSC Otkritie Holding and its former senior managers have lodged a cassation appeal against the court decision to freeze assets worth 107.3 billion rubles (about $1.5 billion), according to the Moscow District Commercial Court.

The Moscow Commercial Court ordered in March freeze of assets belonging to Otkritie Holding as well as Eugeny Dankevich, former chairman of the board of Otkritie Bank, Gennady Zhuzhlev, former vice president and board member of the bank, and Mikhail Nazarychev, former vice president of Otkritie Holding. 

The decision was issued at the request of PJSC National Bank Trust that seeks to recover 107.3 billion rubles (about $1.5 billion) in damages from the defendants.

The ruling was upheld in May. 

The central bank bailed out Otkritie Bank, once Russia’s largest private lender, in 2017. It spent nearly 3 trillion roubles to bailout Otkritie along with B&N Bank and Promsvyazbank.

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Ex-Otkritie group senior managers appeal ruling over $1.5 billion frozen assets

16:05 15/07/2021 JSC Otkritie Holding and its former senior managers have lodged a cassation appeal against the court decision to freeze assets worth 107.3 billion rubles (about $1.5 billion).
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