Russia's 'spy bank' owes Hungary $26 billion, but government has not initiated proceedings

There is no trace of bankruptcy or liquidation proceedings in the company's record. Gergely Gulyas The minister in charge of the Prime Minister's Office has repeatedly mentioned the Russian “spy bank” – He writes Voice of the People.

According to the previous statement of the Hungarian government, the Russian International Investment Bank (IIB) owes Hungary $74 million, or about HUF 26 billion, but so far there is no clear sign that the cabinet is after the money. This is the financial institution that European members left after the start of the Russian invasion of Ukraine. After Slovakia and the Czech Republic, Romania and then Bulgaria left, Hungary was the last EU member state to leave the institution.

The document reminds us that the exit was done quickly, but the divorce did not happen: the former member states had a lot of money stuck in the International Investment Bank, which, incidentally, was headquartered in an exclusive estate on the Danube in the capital, the Lanshead Palace.

The government did not respond to Nepsava’s question on the matter, although Gergely Gulyás has repeatedly mentioned bankruptcy or liquidation proceedings against the bank. In November last year, the minister said on government information: “As far as I know the details of the proceedings, there is a debt to the Hungarian state and there is a procedure against the bank. Whether this procedure will turn into bankruptcy or liquidation, I think it is probably not yet, but it is expected to change, and then, according to the rules of bankruptcy or liquidation proceedings, the state will enforce all its claims against the creditor.” In May this year, Gulyás already learned that the liquidation process had begun, but there has been no sign of it since then.

Meanwhile, the Czech Ministry of Finance told the newspaper in a statement that it is trying to take all legal steps to recover Czech funds stuck in the Russian bank.