MOSCOW, August 20 (RAPSI) – Ex-vice president of the Financial Corporation Otkritie Maxim Yanpolsky will pay 47.8 million rubles (over $700,000) to the bank, according to an amicable agreement between the parties approved by the Ninth Commercial Court of Appeals.

On April 18, the Moscow Commercial Court invalidated deals on 55-million-ruble and 60-million-ruble payments to Yanpolsky and another former top manager of the bank Anton Sbytov respectively and ordered them to pay the sums back.

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.

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.