The Supreme Court upheld the ban on New Stream suing Sberbank in Switzerland
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The Supreme Court upheld the judicial acts that prohibited New Stream Trading AG from Dmitry Mazurov’s New Stream group from continuing legal proceedings in Switzerland regarding a claim for damages from Sberbank (MOEX: SBER), Prime reported with reference to court materials. In the cassation appeal, New Stream Trading asked to transfer the case for review to the Judicial Collegium for Economic Disputes.
In May 2022, New Stream Trading filed a claim in the court of the canton of Zuck against Sberbank (Switzerland) AG and Sberbank for damages in the amount of $560 million. Moreover, according to the determination of the first instance, the Swiss company has a debt to Sberbank in the amount of more than 39 billion rubles. New Stream Trading was created to trade products from the Antipinsky Oil Refinery. In May 2019, the company lost its refinery assets.
In 2020–2021, courts of three instances recovered about 22.3 billion rubles from New Stream Trading as the guarantor of the Antipinsky Oil Refinery. in favor of Sberbank and about 16.2 billion – in favor of the SBK company, controlled by the bank. In September 2023, the Moscow Arbitration Court prohibited the initiation of proceedings in Switzerland on the company’s claims.
In December 2023, the Simonovsky Court sentenced Dmitry Mazurov to ten years in prison on charges of fraudulent misappropriation of Sberbank funds issued as part of multi-billion-dollar loans, embezzlement of 473 million rubles that belonged to the Antipinsky Oil Refinery, which was part of the Group of Companies, as well as organizing an attack on the model escort Yulia Milshtein.
Read more about the case in the Kommersant publication. “Dmitry Mazurov’s personal and economic problems were put together”.
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