Russian investors filed the first lawsuit against the Clearstream depository – Kommersant
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Private Russian investors filed the first lawsuit against the Luxembourg depositary Clearstream. This was reported by a representative of the law firm NSP, which represents the co-plaintiffs. Vedomosti. According to the statement of claim, investors demand about 200 million rubles. reimbursement of the value of blocked assets and collection of accrued but not received amounts on them (coupons, redemptions on bonds, dividends).
According to an NSP representative, the application was filed with the Moscow Arbitration Court on August 17. So far, the claim is not reflected in the file of the court. According to a representative of the law firm, work is currently underway to join the lawsuit with a second group of investors who did not have time to join the first.
In July, NSP filed a similar lawsuit against the Belgian depositary Euroclear. The amount of claims amounted to 2 billion rubles. According to the file of the court, eight individuals joined the lawsuit. The preliminary hearing is scheduled for September 25, Vedomosti notes.
In total, 13 lawsuits against Euroclear were filed in Russian courts, including 2 collective ones. According to RBC Investments, the total amount that Russian investors want to sue from Euroclear has already exceeded 200 billion rubles
In 2022, the European depositories Euroclear and Clearstream blocked the accounts of NSD, due to which some of the securities of Russian investors were frozen. Bank of Russia appreciated the amount of blocked Russian assets on NSD’s accounts with foreign depositories is 6 trillion rubles.
For more information on whether there are chances of unlocking funds from Euroclear and Clearstream, see the Kommersant FM article. “Investors make a claim”.
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