Baring Vostok Capital Partners Ltd. intends to pay back to investors 5 billion rubles raised in 2018 for the recapitalization of Russia-based Public Stock Co. Orient Express Bank as the capital boost is not possible due to an ongoing shareholder conflict at the bank, Vedomosti reported Dec. 16.

Baring Vostok, which has invested over $320 million into Orient Express over the last nine years, has no plans to invest more after it lost control of the financial institution in June, the newspaper noted, citing Baring Vostok's representative.

The Russian central bank approved the 5 billion ruble capital boost for Orient Express in 2018 as part of the lender's financial recovery plan, but Russian businessman Artem Avetisyan, who currently controls Orient Express with his business partners, secured a court ban for the capital hike in 2019.

Orient Express told Vedomosti that it does not have a financial recovery plan at the moment that would require a capital boost. The bank also said it is able to fulfill its current loan loss provision and capital needs from its operating profit.

As of Dec. 16, US$1 was equivalent to 62.47 Russian rubles.