For Media Attention

Transcripts of proceedings on suit of Bank St. Petersburg vs Russian businessman Vitaly Arkhangelsky and Arkhangelsky's counterclaim against the bank are now available in the internet: http://www.rpc.co.uk/index.php?option=com_flexicontent&view=category&cid=660%3Absp-v-arkhangelsky-transcripts&Itemid=27 with daily updates.

On February 22-26 the proceedings will take place in Paris, at

ICC Hearing Centre at 112 avenue Kleber, 75016 Paris, France

from 10 a.m. till 5 p.m.

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The bank claims that Arkhangelsky, who, together with his family, left Russia in 2009 and was granted political asylum in France, did not settle with creditors and tries to recover a debt.

Archangelsky in his statement of claim says that during the global financial crisis the bank agreed to defer payment on loans for six months. As a collateral, the bank demanded Archangelsky to transfer the shares of companies that were a part of his Oslo Marine Group - West Terminal port complex and Scandinavia insurance company, the owner of a half of Onega terminal. Before the stipulated term expired, the bank used its political contacts including top law enforcement officers and St. Petersburg Governor Valentina Matvienko, sold the shares to a sister firm at a lower price and changed the executive of Arkhangelsky's companies. He estimates the damages at $500 million.

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The course of the trial will be covered by the press-office.

Contact: Natalia Khmelik natalya.hmelik@gmail.com