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. Last Updated: 07/27/2016

Imperial Loses Appeal

MOSCOW -- A Moscow court rejected on Monday bankrupt Bank Imperial's appeal for a reinstatement of its license.

But Imperial, once Russia's 14th-largest bank, defiantly retorted that it had found "masses" of errors in the license's confiscation just days after the Aug. 17 crisis and would appeal to the top arbitration court.

Imperial President Vladimir Forosenko refused to elaborate on the alleged mistakes.

Bankruptcy proceedings were started against Imperial on Sept. 30.