Insolvent Investbank obliged to pay USD 72 mln and EUR 10.6 mln to Latvian bank
The Moscow District Arbitrage Court obliged the insolvent Investbank to pay USD 72 mln and EUR 10.6 mln in favor of the Latvian Latvijas KrńĀjbanka, the Russian Legal Information Agency, RAPSI reported, Aug. 10.
‚ÄúThe Moscow District Arbitrage Court satisfied the claim of Latvijas KrńĀjbanka and obliged Investbank, which previously declared insolvency, to pay USD 72 mln and EUR 10.6 mln to the Latvian bank,‚ÄĚ RAPSI wrote on its website.
Latvijas KrńĀjbanka, which filed a case to the court against Investbank, claimed that the latter had deducted funds from its correspondent account in violation of the law and without reason.
Reportedly, a representative of Investbank said that the parties had closed inter-bank loan agreements. As Latvijas KrńĀjbanka did not fulfill those, Investbank collected the money.
Latvijas KrńĀjbanka‚Äôs lawyer claimed that the inter-bank agreements had been annulled, the media wrote.
Photo courtesy of perfectska04 (Wikimedia Commons).