Bank Trust recovered 2.7 billion rubles from a Cypriot company

The Moscow Arbitration Court satisfied the requirement of Trust Bank to a company registered in Cyprus Canaan Services Limited. Over 2.7 billion rubles were recovered from the defendant under the assignment agreement, the news agency reports. The lawsuit was received by the court in September 2019, but due to the fact that the defendant was a foreign legal entity, the proceedings were protracted. A third party was the Ministry of Justice and Public Order (Cyprus Ministry of Justice and Public Order). The dispute was based on an agreement on the assignment of rights of claim concluded by Promsvyazbank PJSC and Canaan Services Limited, under which the bank assigned all rights under loan agreement No. 385 of 2007 dated April 24, 2007, concluded with Millesime Enterprises limited, and the agreements that provide it. The foreign company pledged to pay more than 946 million rubles by November 26, 2018, but did not fulfill the terms of the transaction. Bank Trust received the right to claim debt from a Cypriot company as a result of the reorganization of Bank ABB (joined the Trust), which received rights from Promsvyazbank. Judge Gusenkov recovered in favor of the plaintiff the cost of the acquired rights of claims in the amount of 935 101 558 rubles 52 kopecks, interest for using a commercial loan in the amount of 266 082 915 rubles 92 kopecks, a penalty of 294 290 196 rubles 24 kopecks; under the assignment agreement of rights (claims) No. 0437 15 6U-0 dated 26.08.2015 year interest for the use of a commercial loan in the amount of 1,221,343,061 rubles 51 kopecks.