Bank trust reserved for payments under the loan notes 27 billion rubles.


According to 31 December 2015, the Bank “trust” established a reserve for possible losses related to litigation under the loan notes, in the amount of 27.1 billion rubles, follows from the statements of “Trust” in accordance with IFRS for the year 2015. Last year the Bank had a reserve on this article only 1.7 billion rubles.

“The creation of this reserve associated with the facts of the treatment of the holders of notes in the courts, explained the creation of a reserve, the press service of the Bank “trust”.

Partner BDO in Russia Denis Taradov said that the creation of a reserve means that a Bank assesses the risk of payouts as high. “If the risk was low, the Bank simply wrote in the note that this risk is there,” he notes.

Credit linked notes trust actively sold its VIP contributors from 2007 to 2014, all of them holders of steel 2000 people. The Bank sold 7 issues totaling RUB 20 billion of These notes were subordinated instrument, and after the start of reorganization in December 2014, the Bank has written off them in the capital, declaring that more holders of those notes he did not have to. The notes were released by the company C. R. R. B. V. (the structure of the “Trust”), the Bank sold the notes to customers, the money kept in the form of subordinated loan and the Issuer paying the interest, and he had already paid off the holders.

Investors are trying to challenge the decision of the Bank in the courts, but so far without success: most of the decisions the courts make in favor of the Bank.

In response to the press-service of “Trust” to the request States that the position of the Bank remains neizmennoi: “we believe that the reason for the payment does not exist. Buy sheet music had the right to only qualified investors — people who realize the risks associated with this attachment”.

Says partner Tertychny Law Ivan tertychnyy (represents in court the interests of certain holders of notes) of the decision in favor of the holders of notes is isolated, and they were accepted by the courts in the regions, in particular in Karelia and Krasnodar Krai. “But the majority of cases considers Basmanny court of Moscow — the place where the Bank is located, and he makes decisions in his favor,” says tertychnyy. He notes that the court began to refuse to Noteholders in February of this year. “The Bank has formed a provision at the end of last year, when there was a number of decisions in its favour, it is possible that now that the situation has changed, “trust” will dismiss this reserve,” says tertychnyy.