MOSCOW, May 14 (RAPSI) – The Moscow District Commercial Court has dismissed an appeal filed by the Deposit Insurance Agency (DIA) against lower courts’ refusal to seize assets worth 3.9 billion rubles (about $60 million) from ex-owner of the Russian Credit bank Anatoly Motylev, according to court records.

The Moscow Commercial Court dismissed the DIA’s motion in November. An appeals court upheld the ruling concerning the 3.9-billion-ruble claim in February.

Moreover, a similar DIA’s claim in the amount from 5.5 to 6.5 billion rubles in relation to four other managers of the bank was also rejected.

The motions have been lodged as part of the DIA’s demand to collect damages worth over 12 billion rubles from the former Russian Credit top managers. According to the applicant, the defendants have granted loans to companies, which have not had adequate return and property to service debts.

Russian Credit was declared bankrupt in October 2015.

In May 2018, the bank filed a claim to include nearly 33.3 billion rubles (about $500 million) in the creditors’ demands list against former head of the banking group Motylev.

Motylev, who currently lives abroad, is a former owner of several Russian banks including Russian Credit, M Bank, AMB B and Tulsky Industrialist. In July 2015, the Central Bank of Russia revoked licenses of the financial organizations.