Cargo JFC, a subsidiary of troubled Russian fruit importer JFC, has been placed under court supervision ahead of the first of several legal hearings to consider lawsuits filed by JFC creditors.
According to Russian legal information group Rapsinews, the St Petersburg and Leningrad Region Commercial Court launched what it referred to as a supervisory procedure against Cargo JFC on Thursday 24 May.
Creditors are apparently aiming to recover around Rb5bn (€123.0m) from Cargo JFC alone, with Russian bank Sberbank the first to have its claim heard on 5 June in St Petersburg.
The bank, which is aiming to recover Rb1.4bn (€34.4m) it says it is owed by Cargo JFC, has also filed a separate claim, due to be heard on 20 June in the Moscow Commercial Court, for Rb3.1bn (€76.3m).
Meanwhile, Raiffeisen Bank International, a central and eastern European banking group operated by Austria's cooperative banks, is hoping to recover Rb500m (€12.3m) from Cargo JFC by filing two lawsuits in the St Petersburg Commercial Court.
