RBC: Russian court orders Raiffeisenbank to pay Rasperia another €342 million

A Russian court imposed an additional €342 million penalty on Raiffeisenbank in favour of Rasperia in the Strabag dispute, RBC reports, citing Reuters and Raiffeisen Bank International.

A spokesperson for the Austrian banking group called the ruling an expected response to proceedings in Vienna. In September, an Austrian court issued a default judgment awarding RBI and its Russian subsidiary about €3.15 billion in compensation from Rasperia.

A Russian court had previously restricted parties from pursuing certain proceedings against the company outside Russia. According to RBI’s account, claims in Austria of up to €2.85 billion were permitted without a penalty, but the group sought about €3.15 billion.

RBI planned to seek compensation in Austria using frozen Strabag shares, dividends and proceeds from a capital reduction.