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22/08/2019
10:58
Court obliges O1, Future FG to repay RUB 22.6 billion to Bank Trust

Bank of Non-core Assets (PJSC Bank Trust) has won a lawsuit against O1 Group Limited and Future Financial Group, the bank informed.

The arbitration court of Moscow has ruled to invalidate the acquisition of O1 Group Finance's bond issue 4 amounting to more than RUB 22.6 billion and to reverse the transaction.

The court restored the loan obligations of O1 Group Limited and Future FG to Bank Trust amounting to RUB 19.6 billion. The court also decided to restore the securities pledge agreement securing the obligations under the loan agreement with Future FG.

It should be recalled that in August 2017, O1 Group Finance placed two bond issues amounting to RUB 25 billion and RUB 40 billion. Rost Bank purchased the bonds of issue 4 for a total amount of RUB 22.6 billion. The proceeds were used to repay O1 Group Limited's and Future FG's loans to the Bank.

Bank Trust is a credit institution operating as part of Otkritie Financial Group. The group's parent entity is Bank Otkritie FC. The bank focuses on the retail business, lending to medium-sized and small business, corporate clients as its business priorities.

"AK&M", 21.08.2019 12:07

 

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