A Maltese court has awarded compensation to Russian lender Sberbank after “bad-faith” attempts by Turkish tanker owner Palmali Holding to avoid repaying loans.
Palmali, controlled by Mubariz Mansimov, was found to have tried to fraudulently bankrupt Maltese subsidiaries as the bank chased debts of $194m, Malta Today reported.
Justice Neville Camilleri ordered the repayment of $10m to Sberbank in the case.
Sberbank had awarded four loans to two Russian companies, Palmali Caspian Offshore Project and Palmali Company, which were guaranteed by Palmali against vessels allegedly registered in Malta.
