The court recovered $20.7 million from Euroclear in favor of Rostselmash – Kommersant
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The Moscow Arbitration Court satisfied lawsuit combine harvester plant “Rostselmash” to the European depository Euroclear. The amount of recovery amounted to $20.7 million (RUB 1.9 billion).
The claim was filed in court in July 2023. The plaintiff sought to recover $20.7 million from Euroclear and the National Settlement Depository (NSD). The court rejected the claim against the Russian defendant.
The grounds for filing a claim are not given in the case materials. The court involved Rosbank as a third party in the case.
In 2022, the depositories Euroclear and Clearstream blocked NSD accounts, which is why some of the securities of Russian investors were frozen. In July 2023, Euroclear received eight claims, including from Rostselmash, several banks and investors.
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