September 14, 2018 / 9:00 AM / 12 days ago

Russian Standard creditors ask central bank to aid negotiations

LONDON, Sept 14 (Reuters) - Creditors of Russian Standard bank said on Friday they had asked Russia’s central bank for help in negotiations, after direct talks with the firm failed to bring clear progress.

“The outcome of the meeting (with Russian Standard bank) reaffirmed the group’s impression that RSB is playing for time instead of proposing a commercially acceptable solution,” a representative of the group said in a statement.

“For these reasons, the bondholder group seeks the help of the central bank of Russia to protect bondholders’ rights and investments.”

Specifically, the group said the central bank might be helpful in:

* Facilitating talks between the two sides generally.

* Investigating the sale of a 6 percent stake in Roust Corporation, a firm affiliated to RSB, to an unidentified affiliated party.

* The appointment of an independent board member.

* Enforcing bondholders’ voting and information rights. (Reporting by Marc Jones; editing by Sujata Rao)

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