Vienna court orders Rasperia to pay Raiffeisen €3.15 billion
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A Vienna court has ordered Rasperia to pay Raiffeisen Bank International and its Russian subsidiary approximately €3.15 billion in a default judgment. Rasperia has four weeks to appeal the ruling. The dispute stems from a failed 2023 deal for a 27.78% stake in construction group Strabag.
Key Facts
- The Vienna court ordered Rasperia to pay approximately €3.15 billion to Raiffeisen Bank International and its Russian subsidiary.
- Rasperia has four weeks to appeal the default judgment before it becomes enforceable.
- The claim covers 28.5 million Strabag shares, dividends from 2021, and a capital reduction payout from March 2024.
- In January 2025, a Kaliningrad arbitration court ordered Raiffeisenbank to pay Rasperia €2.044 billion and accept Strabag shares of comparable value.
The Vienna Judgment
A Vienna court issued a default judgment requiring Rasperia to pay Raiffeisen Bank International and its Russian subsidiary about €3.15 billion. The court found the factual circumstances presented by Raiffeisen to be substantiated and admissible. Rasperia has four weeks to appeal; if no appeal is filed, the judgment becomes final. Raiffeisen would then seek approval from Austria's financial regulator to recover compensation from Rasperia's frozen Austrian assets.
The Strabag Dispute
The claim involves 28.5 million shares of construction group Strabag, dividends from 2021, and a capital reduction payout from March 2024. These assets are frozen in Austria under European Union sanctions. In December 2023, Raiffeisen planned to acquire 27.78% of Strabag from Rasperia for €1.51 billion. The Russian Raiffeisenbank was to purchase the shares and transfer them to the Austrian parent as dividends, but the group abandoned the deal in May 2024 after failing to secure European regulatory approval.
Counterclaims in Kaliningrad
Rasperia subsequently sued in the Arbitration Court of the Kaliningrad Region, accusing the defendants of seizing corporate control of Strabag, excluding its representatives from shareholder meetings, diluting its stake, and withholding dividends. In January 2025, the court ordered Raiffeisenbank to pay Rasperia €2.044 billion and to accept Strabag shares of comparable value onto its balance sheet. Until 2019, Oleg Deripaska was the controlling shareholder of Rasperia, but he later fully exited the company. Rasperia redomiciled to a special administrative region in Kaliningrad as MKOO Rasperia Trading Limited.
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