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. Last Updated: 07/27/2016

Banks' Appeal Rejected

MOSCOW () -- The Moscow arbitration court has confirmed an earlier decision that Bank Menatep was maligned by rivals Inkombank, Rossiisky Kredit and Alfa-Bank in fallout from last year's loans-for-shares auctions, Interfax reported Friday.

The court dismissed an appeal from the three banks, which had circulated a statement questioning Menatep's financial stability. The State Property Committee had denied on technical grounds an application from the consortium to bid for shares in the Yukos oil company, an auction won by Menatep.