Russian Bank Bids To Nix Security Ruling In $1.3B Fraud Suit

By Richard Crump (January 12, 2022, 6:10 PM GMT) -- Vneshprombank LLC sought on Wednesday to overturn a court ruling that it failed to fulfill the terms of a consent order permitting it to provide security for its $1.3 billion fraud claim against ex-owner Georgy Bedzhamov through a bank guarantee.

The collapsed Russian lender urged Judge Sarah Falk at the High Court in London to grant it relief from sanctions requiring that the funds remain in court as a consequence of changes made by the bank to the form of the guarantee agreed between the parties.

Vneshprombank argues that a lower court official who dismissed its application to vary the order...

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