[2] In 2006, the bank uncovered that OPK Trust Company based in New Zealand owns 100 percent share of it.
[4] The International Industrial Bank in response brought a libel suit against the newspaper citing financial losses, as a number of its customers had allegedly changed the terms of their accounts in a loss-making way because of the publication.
On February 28, 2002, the bank won the case in Moscow's Basmanny municipal court and was awarded 15 million rubles (about $500,000) in lost revenue, an unprecedented sum for Russian newspapers.
However, in an article of May 27, 2002,[5] Yulia Latynina, a journalist of Novaya Gazeta, revealed that the bank's three customers named in the lawsuit were its subsidiaries or otherwise controlled by its board of directors, and claimed that Novaya Gazeta had requested to open a criminal fraud investigation into the activities of the bank.
[6][7] In December 2010, a Russian court declared the International Industrial Bank bankrupt and initiated liquidation proceedings against IIB.