An Alfa Bank depositor sits in front of the bank's branch in Stary Arbat Str., Moscow, July 7, 2004.
Photo: Dmirty Dukhanin
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Alfa Bank Paid for Unlawful Commission
Yesterday, Meshchansky Court of Moscow was to hear the suit filed by Alfa Bank’s depositor Anatoly Pokataev to get interest on commission charged by the bank past July for early withdrawal of money. Alfa Bank preferred to settle the sum ex curia. With the precedent established, Alfa Bank’s depositors, who paid the commission, may claim interest on retained amount.
Alfa Bank had been retaining 10-percent commission past July 8-16 to hold up early withdrawal of money from the deposits. It derived around $4 million for the account of its depositors, as a result.
At first, Pokataev attempted to get back commission ex curia, but in vain. “In Alfa Bank, they even didn’t file my requests,” Pokataev told Kommersant. “Tapping for own money was extremely humiliating, so I went to the law.”
This happened past September. On October 13, a fortnight before large-scale payment started, the money was returned to Pokataev, less $21 retained for unknown reason. Pokataev got back the above $21, but only after the March 4 sitting of Meshchansky Court, where Alfa Bank’s spokesman acknowledged the mistake. From then onwards, the court was only to decide on the interest accrued on invalidly retained amount.
But no hearing was held yesterday. The day before, Alfa Bank offered to Pokataev to get the claimed interest in part and in whole. Astonished by such turnaround, Pokataev went to the court, where Alfa Bank confirmed it would settle the dispute ex curia.
Before the above precedent, Alfa Bank CEO Mikhail Fridman had never doubted legality of “introducing commission for early withdrawal of deposit.” “Retaining commission from the sum of the bank deposit is direct violation of imperative regulations of the law,” said Alexander Makovsky, senior official at the President’s Private Law Center and head of the team involved in the RF Civil Code’s elaboration. The use of the other people’s money after illegal withdrawal entails payment of interest equal to the CBR refinancing rate, which currently stands at 13 percent on year, Makovsky pointed out.
www.kommersant.com
All the Article in Russian as of Apr. 08, 2005
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