November 13, 2019 / 3:19 PM / a month ago

Russia's Vostochny Bank files new lawsuit against Baring Vostok, U.S. investor Calvey - Ria

MOSCOW, Nov 13 (Reuters) - Russia’s Vostochny Bank has filed a new lawsuit against private equity group Baring Vostok and U.S. investor Michael Calvey for more than 8.8 billion roubles ($138 million), the state-run RIA news agency reported on Wednesday.

RIA, citing court documents, said the new lawsuit has been filed to a court in Russia’s Far East, the one that had earlier ordered the seizure of a stake in Vostochny Bank held by Baring Vostok.

The Baring Vostok case has been in the spotlight this year as it substantially soured Russia’s fragile business climate. Calvey and other executives at Baring Vostok were detained in February after investigators accused them and others of embezzling 2.5 billion roubles. They denied wrongdoing. ($1 = 63.8166 roubles) (Reporting by Andrey Ostroukh; Editing by Toby Chopra)

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