The Moscow Arbitration Court froze on Tuesday the assets of Credit Suisse and UBS in the country.
In response to a request by Zenit Bank to declare Credit Suisse bankrupt, the court banned UBS, which acquired Credit Suisse earlier this year, from disposing of shares of their Russian subsidiaries Bank Credit Suisse (Moscow), Credit Suisse Securities (Moscow) and UBS Bank.
However, the court rejected Zenit Bank's request to seize funds in the amount of $13.6 million that belong to UBS and Credit Suisse that were stored in the bank accounts of their subsidiaries because the lender failed to substantiate the reasons for seeking such a move.
