Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
VTB files UK lawsuit against Mozambique over loan debt
Lawsuit filed
In a controversy noted in relation to VTB, the bank said it had filed a lawsuit in Britain against Mozambique to recover $535 million lent to Mozambique Asset Management after the company defaulted on loan repayments. According to the source, VTB stated that it brought the UK legal action against Mozambique over the unpaid loan debt. The event was reported on 7 January 2020.
VTB said it had filed a lawsuit in Britain against Mozambique to recover $535 million lent to Mozambique Asset Management after the company defaulted on loan repayments.
Stated objective. recover $535 million it lent to Mozambique Asset Management
Source excerpt
The bank wants to recover $535 million it lent to Mozambique Asset Management (MAM) to fund a shipyard project in 2013.
Russia's VTB said on Tuesday it had filed a lawsuit in Britain against Mozambique after a state-owned company implicated in a multi-million-dollar bribery scandal defaulted on loan repayments.