MOSCOW, August 12 (RAPSI) – The Moscow Commercial Court has postponed preliminary hearings of a claim filed by the financial corporation Otkritie to recover 289.5 billion rubles (over $4.5 billion) from five former top managers of the bank until September 13, RAPSI has learnt in the court.

The court examined evidence, heard the parties’ positions and concluded that the case was not prepared for the hearing on merits.

Moreover, on July 24, the court seized assets belonging to the defendants worth 289.5 billion rubles.

A demand to seize the assets has been lodged as part of the bank’s claim to recover this sum from the defendants. The defendants are one of the founders of the financial group Otkritie Vadim Belyayev, board chair Eugeny Dankevich, vice-president Gennady Zhuzhlev, ank president Ruben Aganbegyan and ex-board member Yelena 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.