The Cyprus court forbade the Bank of Trusta to sell Intaco shares at an auction. In the beginning …

🇨🇾🏦🇷🇺The Cyprus court forbade the Bank of Trusta to sell Intaco shares at an auction. In early November, the beneficiary of the Moscow Investment-Building company Inteko, Morden Finance Limited, initiated a trial in the Nicosia District Court in Cyprus: the plaintiff demanded that the Russian Bank hold the Intec shares, scheduled for November 16. The bank planned to implement on the website of the Russian auction house by Lot No. RAD-271804 no less-50.04 million pieces of ordinary registered non-documentary shares, and this is 100% of the authorized capital of Inteko.

The Morden Finance Limited statement of claim says that the aforementioned shares of Truste was illegally transferred by Aurevo Limited with violation of Russian and Cyprus legislation. The district court of Nicosia undertook to investigate the circumstances of the transfer, so he forbade the bank to sell Inteko shares until the end of the judicial dispute.
The decision of the Cyprus court was issued on November 8, and on November 11, representatives of Morden Finance Limited hastened to report this to the Federal Antimonopoly Service and the Arbitration Court of Moscow, sending an official statement to which the decision of the district court Nikosia was attached.

They ask to arrest the Intaco shares before the dispute is resolved and prohibit the “Trust” to hold an electronic auction on November 16. The statement also states that The Russian auction house, as the organizer of the tender of Intaco shares, committed violations of antitrust laws.