The IMMS has filed a suit in the Supreme Court of the State of New York against a Beirut bank for failing to return its $1bn deposit. The IMMS, traders in European, Middle East and Asian oil, is a branch of the Russian oil giant Rosneft. BankMed belongs to the family of Prime Minister Saad Hariri. After the deposit was demanded on Nov. 8, the bank replied on the 12th that it was terminating the IMMS’ credit facilities “due to the materially adverse change in the economic condition of Lebanon and the Lebanese financial market.” Market sources say that more suits are piling up against Lebanese banks. since they imposed restrictions on transfers and withdrawals to stem a hard currency shortage and capital flight as the country began sinking into political unrest and economic crisis.