Clean Break: the company completely halting Russian engagements or exiting Russia

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Bayerische Landesbank, also known as BayernLB, is a publicly regulated bank based in Munich, Germany and one of the six Landesbanken. It is 75% owned by the Free State of Bavaria and 25% owned by the Sparkassenverband Bayern, the umbrella organization of Bavarian Sparkassen.

 
 
 

Clean Break: the company completely halting Russian engagements or exiting Russia

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The Company Statement
June 07, 2024

The Arbitration Court of St. Petersburg and the Leningrad Region has seized the property, money and securities of Landesbank Baden-Wurttemberg and Bayerische Landesbank. The court made this decision as interim measures against the claim of the operator of the construction of the complex in Ust-Luga, Ruskhimalyans. The Arbitration Court of St. Petersburg and the Leningrad Region satisfied the claim of Rukhimalliance to recover about 273.1 million euros from Bayerische Landesbank. The company filed a claim against the German organization for 270.5 million euros and 2.64 million euros of interest for late payment of a bank guarantee under a contract with Linde.

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September 17, 2024Russia's RusChemAlliance sues five European banks over aborted gas project
July 18, 2024Ruskhimalliance won a lawsuit against Germany's Bayerische Landesbank for 273.1 million euros
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