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Volgoprombank was a Russianprivate bank, based inVolgograd in theVolga region.In November 2007, the bank principal shareholder (95%), Russian MP and businessmanOleg Mikheyev, sold its stake toPromsvyazbank's main shareholders, brothers Alexey andDmitry Ananyev^[1]In May 2009, Mikheyev has sued prominent business daily Kommersant for $217 million claiming that one of the newspaper's article had spoiled the bank reputation at the time he sold the bank and forced him to sell his shares at a disadvantageous price.^[2]

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