Sodbusinessbank depositors picket Alfa Bank, claiming Alfa Bank has misappropriated funds of Sodbusinessbank creditors, February 9, 2005. The poster reads "Alfa Bank - Marauder."
Photo: Dmitry Lebedev
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Sodbusinessbank Depositors Call For Money and Justice from Alfa Bank
Sodbusinessbank depositors gathered yesterday near the Alfa Bank headquarters in a rally of protest. The meeting was arranged by the Association of Sodbusinessbank Clients.
In May of 2004, when Sodbusinessbank was de-licensed, Alfa Bank unilaterally wrote off 127 million rubles and $2.57 million in Sodbusinessbank funds deposited with Alfa Bank. Last December, Sodbusinessbank liquidator Andrey Belkov filed a suit in the court to recover the above funds (Kommersant of January 12). According to Belkov, Alfa Bank infringed the rights of first priority creditors, whose requirements have not been met to-date.
There were around 40 pickets with posters in front of Alfa Bank by 10:00 a.m. “Alfa Bank! Pay Back to Sodbusinessbank,” they were chanting. Those entering Alfa Bank were offered a sheet of paper, which read “Going to Alfa? Also a Thief?”
The pickets gathered to perform functions of the state authorities, said Valery Kuznetsov, head of Association of Sodbusinessbank Clients, also present at the meeting. “Our major claims are against the Central Bank [CBR],” Kuznetsov specified. “It was exactly with the CBR connivance, that Alfa Bank wrote off money designated for private depositors.”
The pickets broke up at around 1:00 p.m., having sealed a short address “to Alfa Bank Management from Sodbusinessbank Depositors – People of All Sorts.” The address read “Apart from money, there is Justice and Honor. God help you make the right choice.”
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