Oschadbank wants to sue a billion dollars for the Crimea

Ощадбанк хочет отсудить миллиард долларов за Крым

Oschadbank will sue for Crimean assets from Russia

Final hearing proceedings scheduled for the end of March 2017.

Ukrainian Oschadbank intends to receive from Russia compensation in the amount of more than a billion dollars for the assets in the annexed Crimea, the press service of the Bank.

August 26 Oschadbank filed a statement of claim with all the evidence. Amount of claims includes the cost of loss of assets, the cost of losing business and interest that will be accrued until the Tribunal’s final decision and prior to actual receipt of payment at the commercial rate specified by the Tribunal, and more than $1 billion”, – stated in the message.

According to the Bank, in accordance with its reasoned proposal, the Tribunal decided not to “duplicate” the process and to highlight the jurisdictional issues in separate proceedings: all issues relating to jurisdiction, the nature of the claim and assessment of damages will be heard at one meeting that will significantly speed up the proceedings.

According to the report, if after the filing of the statement of claim Oschadbank of Russia will continue to refuse to participate in arbitration, the claim will be considered on an accelerated timetable to final hearing which is currently scheduled for the end of March 2017.

The next procedural step will be a hearing on the merits at trial.

According to the national Bank, on July 1, 2016 to total assets Oschadbank has occupied 2-e a place (185,077 billion UAH) among 108 operating in the country banks.

Earlier Корреспондент.net reported that Oschadbank lost the court, citing the ban on the use of names in Ukraine.