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Russian Tax Authorities Decline to Join Suit against Bank of New York
Russian customs authorities are determined to uphold a $22.5 billion suit against Bank of New York, an official said Tuesday. The federal tax body, meanwhile, denied reports that it may join the motion. In the meantime, Moscow court of arbitration is likely to keep the case pending for about one month, according to unofficial reports.
Federal Customs Service Director Andrey Belyaninov said in an interview with Kommersant that his agency is determined to persevere with the suit against Bank of New York in the first confirmation that its lawyers stand behind the motion. Mr. Belyaninov estimated the damage the U.S. bank has caused at $ 5 billion in unpaid import duties and VAT. The official added that he would like to see the Federal Tax Service join the suit.
Meanwhile, tax officials reported on Tuesday that they are not getting involved in the suit. A tax authority spokesperson said the case is now beyond the stature of limitation, so the agency may join only if a criminal case is opened. A source of Kommersant reports that prosecutors have not decided whether to open a criminal case against Russian companies linked with Bank of New York. As the Customs Service lawyers report the wrongdoing is not likely to be classified as substantial.
Meanwhile, the motion against Bank of New York, which was sent to court on May 23, is likely to remain pending for about a month, a Kommersant source reported, saying that the appeal contained some formal errors. What is more, Bank of New York still says it has not received a copy of the suit while Russian lawyer insists they have already sent it twice.
www.kommersant.com
All the Article in Russian as of May 30, 2007
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