The arbitration court did not appreciate the sleight of hand of Boris Mints

The Moscow Arbitration Court ordered the O1 Group to return the bank "FC Opening" 34 billion rubles. This money, Boris Mintz withdrew from the bank on bail of its bonds shortly before the decision on its readjustment in the fall of 2017.
11.09.2018
Vedomosti
Origin source
The Moscow Arbitration Court on Monday recognized as illegal the number of transactions between the sanitized bank "FC Otkrytie" and the structures of O1 Group Boris Mintz, the correspondent of "RIA Novosti" reported from the courtroom. The court found these transactions null and void.

In court, FC Otkritie applied last fall, expecting to challenge the transactions concluded between the bank and O1 Group entities shortly before its reorganization. Because of these transactions, on the balance sheet of the bank, instead of secured loans, Mintz companies received unsecured bonds of its structure "O1 group finance" for 30 billion rubles.

The representative of the plaintiff said on Monday that due to these transactions the bank "did not get any money," but "became the owner of no-needed bonds. "Return money, take back the bonds," - a representative of FC Otkritie asked the defendants. The defendants did not recognize the claim: according to them, the disputed transactions are not interrelated. The lawyer also said that the bank concludes such transactions "on a permanent basis."

The court restored the debts of O1 Group Limited and the company "Lira" to the bank on four loan agreements for the amount of 3.3 billion rubles. and $ 453.3 million, the correspondent of RIA Novosti reported. He also restored the relevant contracts that ensured the obligations of borrowers. "FC Opening" will have to return to the defendants 34 million bonds "O1 group finance."

In June, "FC Otkritie" tried to abandon the requirements for several companies listed in the lawsuit. This is Cyprus Nori Holdings Ltd. and Centimila Services Ltd., as well as the registered in the British Virgin Islands Coniston Management Ltd. - they all acted as mortgagor for the obligations of O1 Group Limited. Companies referred to an agreement between FC Opening and O1 Group, which provided for the resolution of all disputes in international arbitration. The High Court of London satisfied their statement and ordered FC Opening to stop legal proceedings against the companies in Moscow arbitration.

Fulfilling the order of the London court, FC Opening opened a petition for the refusal of the claim. At the same time, representatives of Nori Holding and Centimila Services petitioned that the court leave the claim without consideration or stop the proceedings. However, the Moscow Arbitration Court rejected the petitions of both the bank and foreign companies. Earlier, a representative of FC Otkritie told that the order of the London court contained a warning about criminal liability in case of its non-execution.

The court also satisfied the requirements of FC Opening to these foreign companies, the representative of the bank confirmed to Vedomosti. Nevertheless, FC Otkritie does not see any risks for itself, he said: the bank complied with all the requirements of the High Court of London, renounced the claim to these companies and, although the refusal was not accepted by the court, did not take any actions to support the claim.

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