MOSCOW, August 9 (RAPSI) — Former top managers of Vneshprombank have appealed against a court decision bringing them to subsidiary liability for the obligations of the bank.

The ex-bank executives appealed to the Ninth Commercial Court of Appeals against the decision of a first instance court of July 1 by which ex-Vneshprombank president Larisa Markus along with first vice-presidents Ali Ajina and Alexey Chirkov, vice-presidents Sergey Ryazantsev, Yekaterina Glushakova and Maxim Sytnikov, chief accountant Yulia Voronkova were brought to subsidiary liability.

Vneshprombank was declared bankrupt and therefore can not satisfy the claims of all its creditors in full as a result of actions (inaction) of the persons controlling the bank, what is the basis for bringing these persons to subsidiary liability for the bank's obligations, the ruling reads.

The Moscow Commercial Court has suspended the proceedings to consider the application of the bankruptcy trustee of Vneshprombank as concerns the estimate of the amount of subsidiary liability of the defendants until the settlements with the bank's creditors are completed.

As part of this dispute, on January 30, 2020, the court, at the request of the DIA, took interim measures freezing immovable assets owned eight defendants.

The Deposit Insurance Agency (DIA) found that from March 1, 2014 to March 14, 2016, the bank controlling persons granted loans to technical legal entities not engaged in economic activities and not having own property and incomes for servicing debts. Moreover, the deposit insurer revealed illegal funds debiting from the bank clients’ accounts. The bank’s execs also failed to take steps to prevent bankruptcy that caused damage to the financial organization.

According to the applicant, these circumstances should be considered as a reason for bringing the defendants to subsidiary liability.