Sergey Pugachev hedged his bets

His potential losses from legal proceedings with ACB are estimated at $ 25 million.
In England, the confrontation of the Deposit Insurance Agency (DIA) and the beneficiary of the largest Russian bank bankrupt Industrial Bank Sergey Pugachev. High Court in London estimated the potential loss of Mr. Pugachev from seizure of his property at the suit of the ACB of $ 25 million. This sum Agency by the court is obliged to post the bank account in England to cover potential losses Sergei Pugachev. However, in the DIA with the money to leave in no hurry, hoping for the abolition of this requirement on appeal.

September 19 High Court in London ruled that the transfer of the Deposit Insurance Agency (DIA) $ 25 million to a bank account in England to counter security cover any losses that may be incurred by the beneficiary Industrial Bank Sergey Pugachev in the trial with the DIA. The relevant information was posted yesterday on the agency's website. This loss can occur as a result of execution of an order of the High Court in London on interim measures in respect of property Sergei Pugachev at the suit of the DIA. It involves the arrest of ex-senator worldwide assetsand the sum of £ 1,171 billion (more than $ 2 billion). Sergey Pugachev is prohibited to alienate, dispose of or reduce the value of assets owned by himself or through a third party (see. "Kommersant" on 16 July).

Mejprombank - the largest bankruptcy case in the Russian banking market. According to DIA, September 1, debt to the creditors of the bank amounted to 81.13 billion rubles. Mr. Pugachev became the first beneficiary of the failed bank, the foreclosure process in respect of which was launched not in Russia and in London. Until now, Russia claims to the bankers is the political process in London were not considered.

The DIA does not believe that the requirements for the placement of $ 25 million for Sergei Pugachev possible losses as a result of execution of the order of the High Court in London justified, and we intend to appeal. "The High Court agreed that pending the decision on appeal DIA is not obliged to send any money to England, - the report says agentstva.- Moreover, the court pointed to the lack of responsibility to limit the DIA Sergei Pugachev when he cant prove that the security measures were taken unlawfully and as a result, he suffered a loss. "

What will be the decision of the Appeal, experts predict not taken. "In general, the counter enable the defendant damages - typical practice for the English courts - indicates the partner practices in dispute resolution Goltsblat BLP Rustam Kurmaev.- Give up if from it in this case, is difficult to predict."

However, even if the appeal does not support the DIA, there is still going to continue the trial. In this case, $ 25 million will form part of the estate and the Industrial Bank will be held on the account in the event that interim measures will be fully canceled and Sergei Pugachev will prove to have suffered because of these losses, noted in the DIA. In total, according to the DIA at the end of August, before the completion of the judicial work Mezhprombank has 369.7 million rubles have been reserved.