Russia Rejects Raiffeisen Appeal Against €2 Billion Court Order

The Russian subsidiary of Raiffeisenbank International (RBI) is expected to pay over two billion euros to Russian Strabag shareholders. RBI's lawsuit in Vienna is intended to compensate the damage

Russia Rejects Raiffeisen Appeal Against €2 Billion Court Order

Raiffeisen Bank International AG lost its appeal of a court decision ordering it to pay more than €2 billion ($2.3 billion) of damages to a company formerly owned by sanctioned Russian billionaire Oleg Deripaska.

In the dispute with the Russian company Rasperia, the verdict against Raiffeisen Bank International (RBI) was confirmed on Thursday: the bank must pay two billion euros in damages.

The Moscow Arbitration Court did not bring Anatoly Chubais, the former head of Rusnano, to subsidiary liability for Lyra's billions of dollars in debts, RIA Novosti reported referring to court documents.

The Russian Court of Appeal has confirmed the first instance judgment in the proceedings initiated by Rasperia against Strabag SE, whose Austrian core shareholders and the 100% Russian RBI subsidiary AO Raiffeisenbank. AO Raiffeisenbank will appeal against this judgment to the next Russian court. Furthermore, the RBI Group will finalise its action against Rasperia in Austria and will probably bring it forward in the second quarter of 2025. RBI i…

Herber Setback for the Austrian construction company STRABAG and Raiffeisenbank Russia, subsidiary of RBI: On Thursday, the 13th Commercial Court in St. Petersburg confirmed the first instance court decision of January, according to which Raiffeisenbank Russia must pay more than two billion euros to the Russian STRABAG shareholder Rasperia Trading Limited and take over its STRABAG shares. It is unclear who should actually receive the two billion…