Beeline filed a lawsuit against the Central Bank
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On January 13, VimpelCom (Beeline brand) filed a lawsuit against the Central Bank (CB) at the Moscow Arbitration Court. The reason was one of the points of the Central Bank’s clarifications on the execution of presidential decrees on the temporary procedure for fulfilling obligations on bonds of foreign investors. A preliminary hearing in the case has been scheduled for February 13. Vedomosti.
According to the materials of the case, the operator asks to invalidate clause 1.3 of the official clarifications of the Central Bank regarding the redemption of bonds of foreign companies by their Russian subsidiaries. This paragraph states that “obligations associated with Eurobonds should be determined depending on the nature of the relationship between the Russian legal entity and the foreign organization that issued the Eurobonds.”
Vimpelcom also demanded interim measures from the court. This means that the operator asked to suspend this paragraph of the Central Bank until the moment his application is considered, and not only for the company itself, but for all legal entities, the lawyer explained to Vedomosti. Representatives of the operator and the Central Bank declined to comment on the lawsuit.
The clarifications of the Central Bank concern decree Vladimir Putin on measures to ensure financial stability, he extended it on November 23. The measures are valid until December 31, 2023 and relate to currency regulation. In particular, Russian legal entities and individuals cannot pay shares in the property of foreign legal entities, and the Central Bank determines the amount of money transfer transactions to foreign companies and individuals.
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