VTB filed a second lawsuit against its former European subsidiary, VTB Europe. The State Bank asks the court to prohibit its daughter from taking legal action abroad. In addition, the plaintiff demands the return of 112 million euros, writes Kommersant.
Despite the fact that, according to a previously signed agreement between the banks, all procedures must be carried out in Hong Kong, VTB claims that, in conditions of sanctions restrictions, it is trying to use available tools to protect its rights.
In early September, VTB filed a lawsuit against VTB Bank Europe SE with the intention of collecting a debt in the amount of 112.6 million euros (approximately 11.6 billion rubles). We are talking about collecting funds trapped in a correspondent account.
The British subsidiary VTB Capital plc left the VTB structure in 2022. Money has been blocked in the accounts of the German VTB structure since the introduction of sanctions in spring 2022. VTB’s total losses amounted to 209 billion rubles .
Author:
Karina Pardaeva
Source: RB
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