The Czech Republic allowed to pay about $2.5 billion to creditors of the Sberbank subsidiary

The City Court of Prague allowed payments to creditors of Sberbank's subsidiary in the Czech Republic, Sberbank CZ, in the amount of 57 billion crowns (about $2.5 billion), reports the portal e15.cz.

The court decision affected more than 16 thousand creditors of the bank. Over the next two months, they will be able to receive at least 95% of their funds. The arbitration manager of the Sberbank subsidiary Irzhina Luzhova said that the payment of money to creditors should begin before the Christmas holidays. The total debt amounted to about 60 billion crowns ($2.62 billion).

On February 24, 2022, the United States added Sber to the sanctions list due to the start of a military operation in Ukraine .

The next day, February 25, the press service of Sberbank told RBC that the work of all branches of the organization in the Czech Republic was suspended due to attacks on employees. According to a bank representative, workers were attacked in different cities across the country, including Prague.

At the beginning of May 2022, the Czech National Bank revoked the license of Sberbank CZ, after which the Prague City Court decided to liquidate the organization.

Among the creditors of Sberbank's subsidiary in the Czech Republic were more than a hundred municipalities and cities in the country, as well as the endowment fund of former Czech President Vaclav Klaus and his wife Livia Klaus.

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In August 2022, the Municipal Court of Prague considered the insolvency case of Sberbank CZ and declared the subsidiary of Sberbank bankrupt. As the CTK portal clarified, Sberbank owned the assets of the Czech subsidiary through the Austrian company Sberbank Europe, but did not control them, and therefore the funds were not subject to anti-Russian sanctions .