The court in Sevastopol exacted 114 million rubles from the Kyiv-based Alfa-Bank, which is being nationalized by Ukraine. in favor of the Russian Depositor Protection Fund. We are talking about interest for the illegal use of other people’s money. Experts believe that the actual receipt of money is difficult due to the legal prohibition in Ukraine to execute the decisions of Russian courts.
The Arbitration Court of Sevastopol satisfied the claim of ANO Depositor Protection Fund against Alfa-Bank JSC (now Sense Bank) from Kyiv for the recovery of 114.8 million rubles. We are talking about interest for the illegal use of other people’s money. Interest has been accrued since 2016, after the Fund sued Ukrsotsbank (later merged into the structure of Kyiv-based Alfa-Bank) the funds of depositors, with which the financial institution did not pay after the termination of its activities in Crimea. Information about this is published in the arbitration file.
As Kommersant previously wrote, Kiev Alfa-Bank rebranded in December 2022 and is now called Sense Bank. After recognizing the reputation of its shareholders, who fell under Western sanctions, as “faulty”, the Ukrainian authorities launched the process of its nationalization. It was reported that Russian businessmen Andrei Kosogov, Mikhail Fridman and Petr Aven own the bank through ABH Holdings SA and ABH Ukraine Limited. On April 11, the Verkhovna Rada of Ukraine in the first reading adopted a law allowing the National Bank of the country to nationalize financial institutions owned by sanctioned persons.
As follows from the case file, at the time the peninsula became part of Russia, Ukrsotsbank had 357.2 million rubles deposited by residents of Crimea and Sevastopol. After the regions were included in the Russian Federation, banks licensed by the National Bank of Ukraine and operating in Crimea and Sevastopol had to obtain a license for their activities from the Bank of Russia before the beginning of 2015. In case of non-fulfillment of obligations to creditors or depositors, the Central Bank of the Russian Federation was obliged to stop their activities, which was eventually done.
After Ukrsotsbank ceased to operate in Crimea, the Depositor Protection Fund bought out the rights of claim to the financial institution from residents of the Republic of Crimea and Sevastopol. In total, by May 2015, the Fund paid 2,357 citizens compensation on deposits for a total of 357.2 million rubles. However, the bank did not respond to the demands for settlement with the Fund under the repurchased contracts, did not participate in court hearings, as a result of which these funds were collected in favor of the Fund.
Judging by the materials of the case, these funds have not yet been paid by the bank in favor of the Fund, which allowed the organization to file a lawsuit against the Ukrainian Alfa-Bank, demanding accrued interest from it. The Sevastopol Arbitration recognized the lawfulness of the claim.
Specialist of the Krasnodar law firm “Vekavi Group” Veronika Yakusheva considers the decision of the Sevastopol court lawful.
However, she notes that the actual enforceability of this judicial act is in question. She explained to Kommersant-Kuban that an amendment to the law on enforcement proceedings has been in force in Ukraine since 2018, as a result of which the decisions of Russian courts were suspended “until the circumstances of a political nature are eliminated.”
“In this regard, at present, a judicial act can only be executed by a bank voluntarily, and the actual receipt of money will depend on the decisions of the officials of the financial organization, and in the event of an expected nationalization, on the ruling elite,” the lawyer summed up.
