Russian Bank Says Oil Trader Can't Duck $22M Payments

Law360, London (January 4, 2021, 7:35 PM GMT) -- A Gazprombank Group subsidiary has told the High Court it is owed at least $22 million in loan payments from a commodities trading company, denying claims it wrongfully obtained freezing orders to sabotage the business. 

Bank GPB International SA hit back at Integral Petroleum SA's suit with a counterclaim, saying it demanded the immediate repayment by Integral after discovering fraudulent invoices in March 2020, but the debt has so far remained unpaid. 

The bank says claims by Integral that it conspired to damage the business are "illogical" as it would be contrary to GPB's own overriding objective of "seeking to facilitate...

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