The Arbitration Court of Moscow partially satisfied the claim of LLC…
The Arbitration Court of Moscow partially satisfied the claim of LLC "Specialized Financial Society "Silicium-2"" against the Belgian depositary Euroclear Bank, ordering the defendant to pay more than $194.2 million.
Consensus
- The Moscow Arbitrazh Court partially satisfied the claim by 'Siliциum-2' against Euroclear Bank.
- The court ordered Euroclear Bank to pay over $194.2 million to 'Siliциум-2'.
- The dispute originated from the blocking of securities belonging to 'Siliциum-2' in 2022 due to international sanctions.
- The blocked assets were held on accounts at the National Settlement Depository (NRS) through Euroclear.
- The initial claim by 'Siliциум-2' was for over $2.2 billion in nominal value of securities and over $4.5 million in coupon income.
- The final awarded amount closely matched the counterclaim submitted by Euroclear Bank.
- A separate case involving the Central Bank of Russia against Euroclear Bank is ongoing, with a first-instance court ruling in favor of the Central Bank in May 2025 and an appellate confirmation in July 2025.
Points of divergence
- The court did not fully recognize the plaintiff's claims as justified, despite the amount being close to the requested sum and matching Euroclear’s counterclaim. — fontanka
- Euroclear Bank filed a challenge in May 2025 against immediate enforcement of approximately €200 billion related to the Central Bank's claim, and also sought a suspension of proceedings pending a European court decision. — vedomosti
- 'Siliциum-2' increased its claims from an initial 32.8 billion rubles to over five times that amount by October 2025, reaching more than $2.2 billion in the final claim. — kommersant
Coverage (3 sources)
- Russian court awards Euroclear more than $194 million — Фонтанка
- Moscow court orders Euroclear Bank to pay $194.2 million — Ведомости
- Court awards Russian company $194 million against Euroclear — Коммерсантъ