A Moscow court on Thursday postponed a hearing into a $22.5 billion lawsuit by Russia’s federal customs service against Bank of New York Mellon Corp. after the bank submitted new documents in its defense, Reuters reports.
In May, Russia accused Bank of New York of helping illegally transfer $7 billion through its accounts in the late 1990s. A former bank executive and her husband pleaded guilty in 2000 to being part of a conspiracy to transfer the funds.
The $22.5 billion lawsuit was filed 18 months after Bank of New York agreed to pay $38 million to settle two U.S. criminal investigations, including one into the alleged money-laundering conspiracy.
“We continue to believe the claim is without merit.” says, Kevin Heine, a bank spokesman. Copies of the documents filed by the bank were not immediately available.
A new hearing is set for July 10.
“We feel confident in the validity and strength of Russia’s claim, as well as our prospective to prevail in court with or without the defendant,” Maxim Smal, the attorney representing Russia’s Federal Customs Service, said in a statement. Apparently, no one from BNY Mellon showed up for the case’s opening arguments.