Sberbank continues litigation against Bayer
Today, the Commercial Court of Moscow will hold a hearing on the claim of Sber (the largest bank in Russia) against the Russian subsidiary of the German chemical giant Bayer, one of the world’s largest producers of plant protection products.
According to the case files, Sber intends to recover 132.454 million rubles (approximately $1.745 million). The Agriplant company is involved in the case as a third party.
Earlier, the Bayer press-service reported that the lawsuit was related to the enforcement of Agriplant’s obligations to Bayer, where Sber’s Krasnodar branch acted as the guarantor. Agriplant, which was in bankruptcy, was a Bayer distributor and owed the producer about 120 million rubles (approx. $1.581 million). This amount was paid under the guarantee of the claimant.