Bank Trust files suit for bankruptcy of Otkritie Holding

MOSCOW, Feb 21 (PRIME) -- A bank of non-core assets created around Bank Trust has filed an application with the Moscow Arbitration Court for bankruptcy of Otkritie Holding, the bank said in a statement late Thursday.

Earlier on Thursday, the court registered a bankruptcy application of Otkritie Holding.

The holding’s debt to the bank of non-core assets is estimated at around 450 billion rubles.

“The bank is the largest creditor of Otkritie Holding. The application to the court is dictated by the need to protect own rights and legitimate interests. As part of the bankruptcy procedure, all transactions completed during three years preceding the filing date will be evaluated. Our task is to find and implement sources of debt repayment,” Bank Trust CEO Alexander Sokolov said.

(63.7413 rubles – U.S. $1)

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