Capital Hike At Heart Of £22M Russian Bank Lawsuit: Oligarch

Law360, London (February 4, 2019, 8:13 PM GMT) -- Russia’s central bank unjustifiably ordered a private lender to raise $1.5 billion in extra capital just days before forcing the bank into administration, an oligarch fighting a £22 million ($28.7 million) lawsuit in London over the company’s fate alleged in a witness statement seen by Law360.

Investors in PAO Promsvyazbank are suing Dmitri Ananyev and his brother Alexei at the High Court, after the Central Bank of the Russian Federation put the company into administration in December 2017.

Investors say they were encouraged to pump money into the bank, known as PSB, in the months leading up to what they describe...

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