United Wagon Company

Trust Bank Reaches 99.4% of Its Asset Recovery Target

Retrieved on: 
Thursday, February 17, 2022
Banking, Professional Services, Finance, Trust, Lists of companies, Rehabilitation, PricewaterhouseCoopers, RUB, Banking in Russia, Bank, Central bank, United Wagon Company, Central Bank of Russia, Professional, Agriculture, Engineering, BNA, Inteco, Cryptocurrency, Pharmaceutical industry

The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned.

Key Points: 
  • The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned.
  • In 2021 alone, BNA Trusts asset recovery totalled RUB 110 billion, which represented 126% of its target for that year.
  • Almost 90% of all returns came from settlement and asset management, and only 10% from judicial recovery.
  • The Bank of Non-Core Assets Trust (BNA Trust) is a Russian financial institution established by the Bank of Russia as part of the rehabilitation of the countrys banking system.

Cypriot Court Arrested ICT Group's Assets Under 8 Billion Rubles Claim From United Wagon Company

Retrieved on: 
Monday, June 1, 2020
United Wagon Company, ICT Group, Companies, Otkritie FC Bank, MOEX, Economy of Russia

LONDON, June 1, 2020 /PRNewswire/ --District Court of Limassol (Republic of Cyprus) has issued an order to arrest the assets of Cypriot holding companies of ICT Group under a claim from UWC seeking damages in the amount of more than 8 billion rubles.

Key Points: 
  • LONDON, June 1, 2020 /PRNewswire/ --District Court of Limassol (Republic of Cyprus) has issued an order to arrest the assets of Cypriot holding companies of ICT Group under a claim from UWC seeking damages in the amount of more than 8 billion rubles.
  • Suspicious transactions have been revealed in the course of a financial forensic of UWC group operations undertaken after TRUST and Otkritie banks became majority shareholders of the company.
  • We welcome the court's ruling to block the assets which shall prevent defendants to hide assets or avoid enforcement of the substantive judgement after that is issued.
  • PJSC "Research and production corporation "United Wagon Company" (UWC or the Company) (MOEX: UWGN)is a leading railway holding focused on design, manufacture and maintenance of freight cars.