Promsvyazbank did not take solidarity into account

Promsvyazbank dispute for 16.5 billion rubles with its former shareholders – pension funds and Promsvyaz Capital B.V. (PSC) – can become a precedent due to an atypical settlement agreement where Promsvyaz Capital B.V. (PSC) does not take part. According to experts, the non-participation of PSC in the agreement gives grounds for canceling it or for refusing the bank to recover the entire amount from the company. Apparently, PSC is already trying to seize this opportunity. Konstantin Suvorov the partner of the law firm Kosenkov & Suvorov provides his comments.