Russian bank seeks $24 million payout in conspiracy lawsuit

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By Joanne Faulkner (February 28, 2022, 17:51 GMT) – A subsidiary of the Gazprombank Group on Monday asked a London court to award it $24 million in missed payments from a commodities trading firm, claiming it was not There was no evidence of an oral agreement to extend loan terms.

Michael McLaren QC, solicitor for Bank GPB International SA, told the High Court it was “inconceivable” that the Luxembourg entity and Integral Petroleum SA had orally agreed to extend payment terms.

The bank is seeking summary judgment ordering the immediate repayment of a number of loans totaling approximately $24 million in the face of Integral’s allegations that Bank GPB sought to harm the merchant’s business….

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