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A court in the Amur Region arrested 9,99% of Vostochny Bank shares - EastRussia | Far East

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The court in the Amur region arrested 9,99% stake in the bank "Vostochny"

The Arbitration Court of the Amur Region decided to partially satisfy the request of “Finvizh Holdings” Artem Avetisyan to the Evizon Holdings company of the Baring Vostok funds. The court arrested 9,99% of the bank’s shares in Vostochny, but refused to ban the additional issue of five billion rubles planned and agreed with the Central Bank.

As the KommersantA petition to ban an additional issue was supposed to protect Avetisyan from diluting his share. Now the shares will not allow accumulating a controlling stake in Vostochny.

Vostochny Bank joined Artem Avetisyan to Uniastrum Bank in 2017. After the merger, Baring Vostok through Cyprus Evison Holdings became the owner of 51,6% of the bank's shares, and Finvizh Holdings received 32%. The company filed a petition as part of its claim to Evision Holdings Ltd for execution call option on 10% stake Bank "East".

The bank argues that the conflict of shareholders does not affect operations, but in the "East" recorded outflow of client money. Most of all, their finances are taken away by investors.