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Russian Auto Co.'s $58M Suit Against Banker Revived

Law360 (January 3, 2019, 6:55 PM EST) -- A New York state appeals court revived a $58 million lawsuit by a Russian auto sales company against a former banker on Thursday, saying a Manhattan judge was wrong to find that a related case in federal courts had addressed the same issues.

Sergey Leontiev, who led Probusiness Bank until Russian bank regulators took it over in 2015, appeared to have prevailed when Justice Barry Ostrager dismissed a suit in 2017 by Avilon Automotive Group and its owner’s son that sought to collect on some $58 million that Leontiev allegedly owed. The state judge found that Avilon was trying to do...

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