SummaryCompanies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Dec 1 (Reuters) - A Russian court has ruled that state-owned lender VTB's (VTBR.MM) claim for 112.6 million euros ($122.1 million) from its former European subsidiary should be paid, court filings showed on Friday.
VTB in September filed a lawsuit seeking to recover debt from the former subsidiary, now called OWH SE, and applied for interim measures that were granted in full, leading the Russian court to freeze securities owned by OWH.
Frankfurt-based VTB Bank (Europe) SE, already ring-fenced by regulators due to sanctions and in liquidation since last year, has been renamed OWH SE, its Chief Executive Officer Frank Hellwig said last month.
German regulator BaFin said the measures had resulted in a complete ring-fencing of the subsidiary from its parent.
($1 = 0.9222 euros)Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
Persons:
VTB, Frank Hellwig, OWH, BaFin, Elena Fabrichnaya, Alexander Marrow, Kirsten Donovan
Organizations:
VTB's, OWH ., VTB Bank, Thomson
Locations:
Russia, Ukraine MOSCOW, OWH . Frankfurt, Europe, Ukraine, VTB