The Supreme court has confirmed the illegality of the withdrawal of 50 billion rubles from "Rost Bank"

Russia's Supreme court won't reconsider judicial acts of two lower courts that invalidated the introduction in 2017, "Growth Bank", then controlled by Mikail Shishkhanov, 50 billion rubles in the authorized capital of the subsidiary OOO "Growth Capital".

As follows from appearing in the Thursday records in the files of arbitration cases, the decision to reject the appeal shishkhanova and two other former executives "Rost Bank" Alexander Lukin and Cyril Lubentsova judge Natalia Chugunova adopted on may 12, however, the text of the definition of the armed forces at the moment is still not published.

The deal for such a large sum was held in September 2017, when the reorganization of the "Rost Bank" conducted the main shareholder of the Bank Shishkhanov. "Rost Bank" received interbank loans from the Bank and sent the borrowed funds to increase the Charter capital of the "daughters".

As found by the Ninth arbitration court of appeal, the transaction was a single intent associated with the subsequent transactions for which the "daughter" of the Bank acquired overpriced assets from companies affiliated with its beneficiaries, in particular Shishkhanov and Mikhail Gutseriev. Part of the money was also spent on the repayment of debts of the companies beneficiaries of the "Growth Bank" in front of the Bank. The court characterized the transaction as a perfect abuse of law. With the findings of the appellate court agreed and the court of arbitration of the Moscow district.

The transfer of "Growth Capital" 50 billion rubles were challenged in court in 2018, the Bank "trust", to which was annexed "the Growth of the Bank." The Moscow arbitration court in March 2019 dismissed the claim, but the superior court was supported by "trust". Third parties to the process involved former top-managers of "Growth Bank" - Shishkhanov, Mikhail, Sayid and Sait-Salam Gutseriyev, Avet Martirosyan, Sergey Popov, Oleg Andriankin, Alexander Volchenko, Alexander Lukin, as well as several other individuals and companies.

Russia's Supreme court in April upheld the judicial acts of the illegality of the same transaction in the same period, – making "Growth Bank" 205 billion rubles in the authorized capital of the subsidiary OOO "Growth Investments".

The Bank of Russia in 2014 has accepted the decision on reorganization "the growth of the Bank", was at that time in the top 100 in Russia. The turnaround was assigned to the Bin. A year later the sole sanatorium was Shishkhanov, bought the stock "the growth of the Bank" have controlled the Bank. In September 2017, "Growth Bank" and the Bank again had financial support: the Central Bank took both in their Fund consolidation of the banking sector. On the restoration of solvency "Rost Bank" it took funding from the Central Bank in the amount of 779 billion rubles.