‘The further the ROSNO-UralTransBank conflict unwinds, the harder it is to hit the reputation of both parties and that of the financial market on the whole. There is nothing whatsoever positive about two regional and even federal brands being stuck in a controversy of such sort. The reason for this lies, most likely, in the underperformance of the legal experts who initially drew up the contracts. This conflict could have been avoided if these contracts contained certain points,’ claims Investments Director of Management Company CJSC Alexander Metzger.

The dispute between ROSNO Insurance Company and UralTransBank has remained unsettled up to now; both parties have accused each other of failing to meet their contract liabilities.

‘In whichever case, the respectable players on the financial market should have found some better ways of finding a solution to the problem than trying to outdo each other with the help of negative publicity broadcast via mass media. Instead of using the press, radio, or television, they had better placed their claims with the Court of Arbitration,’ Mr Metzger observed.