Court recovers $43.9mln from Yugra Bank in favor of Alfa-Bank

Court recovers $43.9mln from Yugra Bank in favor of Alfa-Bank

The main owner of the credit organization, which has been deprived of its license, Aleksey Khotin, said that he would appeal this decision.

The Meshchansky Court of Moscow has granted the request of Alfa-Bank about recovering 2.6-million-ruble ($43.9 million) debt from Yurga Bank, RBC reports.

As the publication notes, Alfa-Bank decided to file the lawsuit without waiting for the license-deprived bank to be able to pay off its creditors. In turn, the main owner of Yugra Bank, Aleksey Khotin, tried to negotiate a settlement, proposing a debt restructuring plan, but the Alfa Bank representatives did not accept it.

"Considering the judicial procedure as a forced measure, we are open to the further search for a mutually acceptable solution," Alfa-Bank's press service representative announced.

Khotin stressed that he would appeal the decision of the Meshchansky Court, since, in his opinion, "there are no grounds for early repayment of the loan." He noted that over the last ten years of cooperation, the financial organization returned about $200 million to Alfa-Bank, and the present debt was paid in good faith.

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