Ex-Baltic Bank Tycoon Sued Over $10 Million Russian Loan
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Administrators for a Latvian lender that went bankrupt in 2011 are suing its former owner, Vladimir Antonov, in London over a loan to a member of the Russian parliament.
Latvijas Krajbanka AS gave a $10 million loan to Denis Davitiashvili, a Liberal Democrat lawmaker at the time, in June 2008 that was contrary to the bank’s interests and was only made possible by his association with Antonov, according to a claim filed in London’s High Court of Justice in June and made public this month. The loan defaulted and the security was unenforceable or worthless, according to the claim. The hearing is scheduled for tomorrow at 10:30 a.m. in London.