Mechel Trans ordered by Russian Court to pay Sberbank RUB 95m
The Moscow Arbitration Court has ordered Mechel Trans, a subsidiary company of the mining and steel company Mechel, to pay Russia's biggest bank Sberbank RUB 95m ($1.5m). Sberbank filed the lawsuit against Mechel Trans because the company was a guarantor of a loan taken from Sberbank by another Mechele subsidiary, Bratsk Ferroalloy Plant in 2010.

Russian court orders Mechel to pay 95 mln rbl to Sberbank

MOSCOW, Nov 6 (PRIME) -- The Moscow Arbitration Court awarded on Friday 95 million rubles in payment from Mechel-Trans, an affiliate of metals producer Mechel, to biggest lender Sberbank.

Mechel-Trans was a guarantor of a loan taken from Sberbank by another Mechel unit, Bratsk Ferroalloy Plant on October 14, 2010.

The court fully satisfied the claim, including the core debt of 72 million rubles, interest and penalties.

(63.3991 rubles – U.S. $1)

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