Trust Bank Canceled Auction for Inteko Shares

Trust Bank has decided to cancel the auction scheduled for November 16 for the sale of shares of a large Russian developer Inteko JSC, RIA Novosti was told in the Trust's press service.

“To protect the interests of a potential buyer, the bank of non-core assets” Trust “(Bank” Trust “(PJSC) decided to cancel the auction for the sale of shares of JSC Inteko, which is to be held on November 16, 2021 at the site of JSC Russian Auction House “, – said in the message.

It clarifies that on November 10, 2021, the District Court of Nicosia in Cyprus within the framework of the lawsuit filed by Morden Finance Limited (MFL, British Virgin Islands, calls itself the beneficial owner of Inteko “) prohibited Bank Trust and a number of other defendants to complete the auction for the sale of Inteko shares.” title to a potential buyer “, – noted in the message “Trust”. It also emphasizes that the bank considers the claims made by Morden Finance Limited illegal and will defend its interests in court.

In mid-September, Trust put up for auction 100% of Inteko shares worth 29.6 billion rubles and the rights of the bank's claims against the company in the amount of 7.8 billion rubles. The auction was supposed to take place on November 16.


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