Onexim Group controlled by Mikhail Prokhorov filed a claim against Otkritie Holding to the Arbitration Court of Moscow. The amount of the claim is RUB 1.4 billion. The lawsuit has not been accepted for hearing so far, the subject-matter of the claim unknown

Author/Creator

WPS

Publisher

WPS USA Inc

Media Date

11-24-2017

Media Type

Document

Content Type

News Article

Country/Region

Russia

Language

English

Crisis

Russian Private-Banking Crisis (2017)

Case Series

Ad hoc Capital Injection

Intervention

Ad hoc Capital Injection

Additional Information

Not long ago, Otkritie Holding lost its core asset, Bank Otkritie FC. In the late part of August, the Bank of Russia announced the launch of the bank's financial rehabilitation through the Banking Sector Consolidation Fund controlled by the regulator. Trust Bank, three pension funds and Rosgosstrakh were handed over to the Fund together with the bank. The Bank of Russia promised that if Otkritie FC's capital happens to be positive, the bank's shareholders would be able to keep 25% of shares. However, as of October 1, 2017, Bank Otkritie FC reported negative capital of RUB 188.9 billion.

Recommended Citation

WPS, "Onexim Group controlled by Mikhail Prokhorov filed a claim against Otkritie Holding to the Arbitration Court of Moscow. The amount of the claim is RUB 1.4 billion. The lawsuit has not been accepted for hearing so far, the subject-matter of the claim unknown" (2017). Documents. 2701.
https://elischolar.library.yale.edu/ypfs-documents2/2701