Krediidipank Stock Seized
At the behest of the Bank of Moscow, the Harju County Court has seized 27.57 percent of Krediidipank's stock, which is in the securities accounts of Olix Holdings Limited, Lazuron Investments Limited, Firmex Investeeringud OÜ and Genovia Invest OÜ.
Krediidipank says the seizure is connected with the sale of Krediidipank shares by the former president of the Bank of Moscow, Andrei Borodin.
According to Firmex Investeeringud OÜ's representative attorney Toomas Vaher, the Bank of Moscow's demands are still unclear as the bank, as far as is known, has yet to present its suit.
"From the point of view of the stock owners Firmex Investeeringud OÜ and Genovia Invest OÜ, all has taken place in accordance with the law and on the basis of valid sales contracts," noted Vaher in a Krediidipank press release. "The disagreement seems more connected to the power change in the Bank of Moscow's upper management than it is with the transaction itself. In the event of a lawsuit, Firmex is naturally ready to defend its position."
Scott Diel