The head of Segezha Group is negotiating with Credit Suisse on a lawsuit for 89 million rubles – Kommersant

Representatives of the president of the Segezha Group timber holding, Mikhail Shamolin, are negotiating a peaceful settlement of his lawsuit against the Credit Suisse bank to recover about 89 million rubles. This was announced by a representative of the bank at a meeting of the Moscow Arbitration Court.

“The parties are currently conducting peace negotiations, and we would ask the court to postpone the court session to prepare a settlement agreement,” said a representative of Credit Suisse (quoted by RIA Novosti).

The representative of Mikhail Shamolin confirmed the fact of negotiations. According to him, Credit Suisse sent them a draft settlement agreement, the parties are discussing it.

The court postponed hearings on the claim until September 4, RIA Novosti reports.

As follows from the court ruling, Mikhail Shamolin requires dividends in the amount of 89 million rubles from Credit Suisse. Payments on securities of which companies Mr. Shamolin is trying to collect are not specified in the lawsuit. The group of companies Segezha and Rosbank act as third parties in the lawsuit.

March 19, 2023 National Bank of Switzerland announced about the emergency merger of the two largest banks in the country – UBS and Credit Suisse. The reason was long-term corporate scandals and financial problems of Credit Suisse, which showed a loss of $7.9 billion in 2022, which was the bank’s worst result since 2008. Prosecutor’s Office of Switzerland start investigation into the takeover of Credit Suisse.

Olesya Pavlenko