27.05.2025, 22:31
The Supreme Court upheld the recovery from the Canadian bank in favor of Sberbank
Source: OREANDA-NEWS
OREANDA-NEWS The Supreme Court of Russia has decided not to review the judicial acts of three lower instances on the recovery of about 2.1 million Canadian dollars (about 121 million rubles at the current exchange rate) from a large Canadian bank, Canadian Imperial Bank of Commerce (CIBC), according to materials reviewed by RIA Novosti.
Judge Marina Pronina of the Supreme Court of the Russian Federation, having studied the defendant's cassation appeal and the case specially requested from the first instance, found no grounds for transferring it for review to the Judicial Board for Economic Disputes.
In April 2024, the Moscow Arbitration Court recovered more than 1.9 million Canadian dollars in correspondent bank account debt and more than 146 thousand Canadian dollars in interest accrued on the amount of debt as of August 29, 2023. In addition, the Canadian bank is charged interest from August 30, 2023 to the date of actual fulfillment of obligations at the rate of 5% per annum of the debt amount.
Judge Marina Pronina of the Supreme Court of the Russian Federation, having studied the defendant's cassation appeal and the case specially requested from the first instance, found no grounds for transferring it for review to the Judicial Board for Economic Disputes.
In April 2024, the Moscow Arbitration Court recovered more than 1.9 million Canadian dollars in correspondent bank account debt and more than 146 thousand Canadian dollars in interest accrued on the amount of debt as of August 29, 2023. In addition, the Canadian bank is charged interest from August 30, 2023 to the date of actual fulfillment of obligations at the rate of 5% per annum of the debt amount.
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