Economic Calendar

Thursday, November 13, 2008

Bank of NY suit in Russia adjourned until Nov 27

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MOSCOW, Nov 13 (Reuters) - A Russian court postponed the hearing on Thursday of the Russian government's $22.5 billion lawsuit against the Bank of New York Mellon Corp. (BK.N: Quote, Profile, Research, Stock Buzz).

Judge Lyudmila Pulova said that one of the judges on the panel of three had been unable to attend and set the next hearing for Nov. 27.

Since last May, Russia has been seeking compensation from the bank after its former vice-president Lucy Edwards helped illegally transfer $7 billion out of Russia in the late 1990s through Bank of New York accounts.

The bank denies the allegations against it.

(Reporting by Simon Shuster; Editing by Mike Nesbit)




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