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Gazprom arm seeks foreclosure on Deutsche Bank Russia businesses -court document

Published 10/07/2023, 17:03
Updated 10/07/2023, 17:07
© Reuters. FILE PHOTO: The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
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MOSCOW (Reuters) - A subsidiary of Kremlin-owned gas giant Gazprom (MCX:GAZP) is seeking foreclosure on Deutsche Bank (ETR:DBKGn)'s Russian businesses over unpaid bank guarantees, court documents filed at a St Petersburg court show.

Deutsche Bank declined to comment on Monday on the court move by RusKhimAlyans, which relates to a payment on a banking guarantee of 238.1 million euros ($261 million) from September 2021.

Documents made public by the Court of Arbitration of St Petersburg and the Leningrad Region last week showed that RusKhimAlyans has filed lawsuits seeking a total of 31 billion roubles ($339 million) from Deutsche Bank and fellow German lender Commerzbank (ETR:CBKG).

RusKhimAlyans, in which Gazprom has a 50% stake, is seeking more than 22 billion roubles from Deutsche Bank and more than 8 billion roubles from Commerzbank, the documents show.

The court has since released details which show RusKhimAlyans is seeking foreclosure on 100% of Deutsche Bank's Russian subsidiary Deutsche Bank Limited Liability Company (LLC) and on Deutsche Bank Technology Centre.

The court has requested RusKhimAlyans submits additional documents by Aug. 4 2023.

© Reuters. FILE PHOTO: The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo

($1 = 91.4585 roubles)

($1 = 0.9109 euros)

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