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Top related persons:
UBS — - 1 Vladimir Putin - 1 Jeffrey Sonnenfeld - 1 Denis Balibouse - 1 Laws - 1 Goldman Sachs - 1 Elena Fabrichnaya - 1 Alexander Marrow - 1
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Moscow Ukraine Russia Luxembourg Russian Zenit Bank . Russia Wall Silicon
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Search resuls for: "Intergrain"


2 mentions found


☆ Moscow banned 2 major Swiss banks from selling shares in its subsidiaries after a Russian bank said it would lose money from their exit
  + stars: | 2023-08-17 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
A Moscow court has banned UBS and Credit Suisse from disposing of shares in their Russian subsidiaries. Russia witnessed an exodus of Western companies after it invaded Ukraine. A Moscow court has banned two major Swiss banks — UBS and Credit Suisse — from trying to wriggle their way out of their Russian subsidiaries, Reuters reported on Tuesday, citing court documents. Moscow-based Zenit Bank requested the ban, citing concerns about losing money should the two Swiss banks exit, per the news agency. Zenit also requested the court to seize funds belonging to UBS and Credit Suisse, but the application was not granted, per Reuters.
Persons: UBS —, Vladimir Putin, Jeffrey Sonnenfeld Organizations: UBS, Credit Suisse, Zenit Bank ., Service, Credit Suisse —, Reuters, Zenit Bank, Zenit, Carlsberg, Danone, Yale School of Management Locations: Moscow, Zenit Bank . Russia, Ukraine, Wall, Silicon, Russia, Intergrain, Luxembourg, Russian
☆ Russian court bans UBS, Credit Suisse from subsidiary disposals
  + stars: | 2023-08-15 | by ( ) www.reuters.com   time to read: +2 min
The logos of Swiss bank Credit Suisse and UBS are seen in Geneva, Switzerland, June 7, 2023. The Russian bank joined an agreement to provide a syndicated loan to Luxembourg-based agricultural firm Intergrain, for which Credit Suisse was the credit agent, the document showed. In November 2021, Zenit transferred $20 million to Intergrain, but after Western sanctions were imposed on Zenit, Credit Suisse notified the Russian bank that it would not transfer payments to it from Intergrain. Credit Suisse and UBS, which bought its smaller rival in June, declined to comment. The court documents showed that Zenit Bank had filed for interim measures, asking the court to seize funds belonging to UBS and Credit Suisse, and prohibiting the disposal of shares.
Persons: Denis Balibouse, Laws, Goldman Sachs, Elena Fabrichnaya, Alexander Marrow, Alexander Smith Organizations: Credit Suisse, UBS, REUTERS, Zenit Bank, Zenit, Intergrain . Credit Suisse, Otkritie Bank, Thomson Locations: Geneva, Switzerland, Russia, Ukraine MOSCOW, Moscow, Russian, Luxembourg, Intergrain ., Ukraine, Detsky Mir, U.S
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