Russian courts have finally dismissed an appeal filed by Vladimir Antonov, a former majority shareholder of the collapsed Lithuanian bank Snoras, against the dismissal of his lawsuit, worth 40 billion rubles (over EUR 500 mln), against Lithuania.
Vladimiras Antonovas
© Reuters / Scanpix

The Lithuanian Justice Ministry said on Tuesday that it been informed by the Arbitration Court of the District of Moscow that the appeal had been rejected.

In his lawsuit filed with the Arbitration Court of the City of Moscow on Aug. 5, 2016, Antonov sought 20.2 billion rubles (EUR 283 mln) in material damages and another 19.9 billion rubles (EUR 279 mln) in damages to his business reputation.

The case, in which Lithuania decided to exercise the jurisdictional immunity it is entitled to under international law, was closed on Oct. 28, 2016.

Antonov appealed the decision with the Arbitration Court of the District of Moscow, which on Jan. 30 upheld the lower court's ruling. The former Snoras shareholder filed an appeal shortly afterwards.

Snoras' operations were suspended in November 2011. British courts ruled in 2015 to extradite Antonov and Raimondas Baranauskas, another shareholder of the collapsed bank, who then lived in London, to Lithuania, but the men fled the UK and are now hiding in Russia.

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