Russian court upholds 2 billion euro compensation order against Raiffeisen Bank

A St. Petersburg court has dismissed Raiffeisen Bank's appeal against a €2 billion compensation order to Russian investment firm Rasperia. This ruling, one of the most severe against a Western company in Russia, follows a landmark decision made in January. Raiffeisen remains the largest Western bank operating in the country.

Raiffeisen faces billions in damages after Russian court ruling

Raiffeisen Bank International's Russian subsidiary faces a significant legal setback as the 13th Commercial Court of Appeal in St. Petersburg upheld a ruling that grants Strabag shareholder Rasperia the right to damages. This decision confirms the financial liabilities for both Raiffeisen and Strabag.

Raiffeisenbank Russia faces legal setback in STRABAG sanctions case

A Kaliningrad court has upheld a ruling against Raiffeisenbank Russia and other defendants in a lawsuit filed by Rasperia Trading, linked to EU sanctions against Oleg Deripaska. The court ordered the bank to take over Rasperia's STRABAG shares, which are frozen due to sanctions, despite appeals claiming the ruling has questionable legal grounds. The case highlights the complex ownership and legal entanglements involving Russian assets and international sanctions.

court ruling forces raiffeisenbank russia to pay 2 billion euros in damages

Raiffeisenbank Russia must pay EUR 2.044 billion in damages after a court upheld a ruling related to a dispute involving Strabag and its shareholder Rasperia, affected by EU sanctions. The bank plans to appeal the decision but expects no further impact on its financials beyond a previously booked provision of EUR 840 million. Meanwhile, the ownership of the damages remains unclear, with conflicting claims regarding the involvement of Oleg Deripaska.

Russian court upholds compensation ruling for Strabag shareholder Rasperia

A Russian court has rejected an appeal by RBI subsidiary, confirming that the compensation exceeding two billion euros owed to Rasperia, a shareholder in Russian Strabag, is now legally binding. This decision solidifies Rasperia's financial claim in the ongoing legal matters.

Raiffeisen Bank ordered to pay two billion euros in Russian legal dispute

Raiffeisen Bank International (RBI) has been ordered by a St. Petersburg court to pay two billion euros in damages to the Russian company Rasperia, following a rejected appeal. The lawsuit stems from Rasperia's claims regarding frozen shares in the Austrian construction group Strabag, which are affected by sanctions. RBI had previously set aside 840 million euros in anticipation of legal costs related to this dispute.

Russian court orders Raiffeisen Bank to pay two billion euros in damages

Raiffeisen Bank International has lost its appeal in a St. Petersburg court, which upheld a ruling requiring the bank to pay approximately two billion euros in damages. The case stems from a lawsuit by Rasperia, a company linked to oligarch Oleg Deripaska, over frozen shares in the Austrian construction firm Strabag due to sanctions. The bank had previously set aside 840 million euros in anticipation of legal costs related to this dispute.

russian court orders raiffeisen bank to pay two billion euros in damages

Raiffeisen Bank International faced a setback as a St. Petersburg court upheld a ruling requiring it to pay approximately two billion euros in damages. The lawsuit, initiated by the sanctioned Russian company Rasperia, stems from frozen shares in the Austrian construction firm Strabag, which have prevented dividend payments. Rasperia, previously linked to oligarch Oleg Deripaska, is seeking compensation from Strabag and its shareholders, alongside the Russian RBI subsidiary.

Russian court upholds 2 billion euro damages against Raiffeisen Bank

A St Petersburg court has upheld an order for Raiffeisen Bank to pay 2 billion euros in damages to Russian investment firm Rasperia, rejecting the bank's appeal. This ruling, one of the most severe against a Western company operating in Russia, follows a landmark decision made in January. Raiffeisen remains the largest Western bank still active in the country.

Russian court upholds 2 billion euro fine against Raiffeisen Bank

A St. Petersburg court has upheld a ruling against Raiffeisen Bank International, ordering the Austrian bank to pay €2 billion in damages to Russian investment company Rasperia. This landmark judgment is one of the largest ever imposed on a Western company still operating in Russia, highlighting Raiffeisen's status as the largest Western bank in the country.
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