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Court rules against Russian bad bank in dispute over 205B-ruble pre-bailout deal

The Moscow Arbitration Court rejected the request of National Bank Trust PJSC to invalidate the transfer of 205 billion Russian rubles from Rost Bank to its unit Rost Investment, made by the former owners of the bank.

The transaction in question took place in 2017, before Rost Bank's bailout by the Russian central bank. At that time the lender was controlled by B&N Bank's main shareholder Mikail Shishkhanov, who oversaw the financial recovery of Rost Bank.

The Russian central bank moved to bail out Rost Bank and B&N Bank in September 2017. B&N Bank was later merged with Otkritie Financial Corp. Bank, while Rost was absorbed by National Bank Trust.

As of March 25, US$1 was equivalent to 64.08 Russian rubles.