VPB’s former owner appeals bank guarantee security in fear of sanctions
Vneshprombank office in Saint-Petersburg, Russia (Credit: Shutterstock/ Lisa-Lisa)
The former owner of Russia’s insolvent Vneshprombank, who is fighting fraud allegations from the bank in the UK, has sought permission to appeal an order allowing VPB to convert a cash security into a bank guarantee, saying the guarantee is uncertain in the face of Russia sanctions.
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