September 2, 2019 / 6:42 AM / a month ago

Russian court orders seizure of stake in Vostochny Bank - Ifax

MOSCOW, Sept 2 (Reuters) - A court in Russia’s Far East ordered the seizure of a stake in Vostochny Bank held by embattled private equity group Baring Vostok at Vostochny Bank’s own request, the Interfax news agency reported on Monday.

Baring Vostok has been in the spotlight since the arrest earlier this year of several of its executives including U.S. investor Michael Calvey. They deny wrongdoing and say the case is being used against them in a corporate dispute over control of Vostochny Bank. (Reporting by Andrey Ostroukh, Maria Kiselyova; Writing by Tom Balmforth; Editing by Toby Chopra)

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