VTB filed two lawsuits for losses of $155.8 million against the structures of the American bank JPMorgan, as follows from the file of court cases.
Author:
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The claims were sent to the Russian bank “JP Morgan Bank International” and foreign structures of JPMorgan Bank. The hearing of the first claim for $74.5 million is scheduled for November 8, the second claim for $81.3 million is scheduled for November 27.
Both lawsuits name VTB Bank OJSC as a third party and other parties are not involved in the case; The defendants are JP Morgan Securities, JPMorgan Chase Bank, JPMorgan Chase & Co, JP Morgan Capital Holdings Limited, JP Morgan Limited, JP Morgan International Finance Limited, JPMorgan Emerging Europe, Middle East & Africa Securities PLC.
On October 8 and 9, the Arbitration Court of St. Petersburg and the Leningrad Region seized the accounts of these companies as part of provisional measures for claims within the limits of claims. The plaintiff justified the need to take measures by the fact that his absence could make the execution of the judicial act impossible, according to the court’s ruling.
In April, VTB filed a similar claim worth $440 million, Kommersant reported. The Arbitration Court of St. Petersburg and the Leningrad Region confiscated the funds and property of the right of claim of JPMorgan and its eight companies.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
