Court looks into Raiffeisen-Bank vs. Pnevmostroymashina

16 September 2009 (10:36)

Sverdlovsk Region Arbitration Court keeps looking into the claim laid by Raiffeisen-Bank vs. Pnevmostroymashina and PSM-Gidravlika. The plaintiff insists on being paid over 119.21 million RUR.

The court has already turned down the bank’s demand to have the defendants’ mortgaged property arrested. The property in question comprised a group of auxiliary shops, two land allotments, and a detached building with some extensions. The court ruled that the plaintiff’s application failed to produce evidence of this arrest being the only way to make sure the court’s decision could be executed. Nor did it prove that without the arrest of property a lot of damage would be done to the plaintiff.

‘The bank did indicate the defendants owed it some rather impressive sums, but a debt per se cannot serve as a ground for property arrest. The thing is, the very existence and the scale of this debt is the subject matter of this court case. Then, the mere fact that the defendants failed to meet their obligations can’t serve as a ground for such measures either,’ declared the court.

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