Sberbank filed a lawsuit against its British subsidiary for 11.9 billion rubles. The structure is under external management. The lawsuit against Sberbank CIB (UK) was received by the Moscow Arbitration Court on March 22, Frank Media noted.
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The application has not yet been accepted for consideration; Details of the claims have not been disclosed. Since the end of 2022, Sberbank and its British subsidiary have been discussing a plan to offset obligations. The outcome depends largely on the position of the UK Treasury’s Office of Financial Sanctions Implementation (OFSI).
The Sberbank CIB funds blocked in the Russian Federation were supposed to be accounted for in the amount that the structure should pay to Sberbank as the largest creditor. But OFSI rejected this scenario in the summer of 2023.
Funds from Sberbank CIB worth $107 million are blocked in the Russian Sberbank, while the net obligations of the British structure to the parent company are estimated at $95 million, according to a report by external manager Teneo Financial Advisory.
Previously, VTB filed several claims against its British subsidiary, which is also under external management. At the end of last year, the bank filed claims for 22 million euros and 52.6 euros with the Arbitration Court of St. Petersburg and the Leningrad Region.
In February this year, the financial organization filed a lawsuit against VTB Capital Plc with the Moscow Arbitration Court for 2.38 billion rubles.
Author:
Natalia Gormaleva
Source: RB
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