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Paper mill to appeal Siberian major ski resort sale

15:45 21/09/2011

IRKUTSK, September 21 - RAPSI. The Baikalsk Pulp and Paper Mill will appeal the court's refusal to cancel the sale of the largest ski resort in Siberia to the Grand Baikal tour operator, the mill said on Wednesday.

The Baikalsk Pulp and Paper Mill sold the Gora Sobolinaya ski resort for 584,000 rubles ($21,000) in March 2009. Meanwhile, the mill's external manager said the nominal value of the resort's authorized capital was 79 million rubles ($2.5 million) and the value of the property was 117.5 million rubles ($3.8 million) as of December 15, 2008. The manager sought to cancel the sale, arguing that the sale price was unreasonably low and cast doubt upon the validity of the deal.

The Gora Sobolinaya ski resort is located 2.5 kilometers off Baikalsk. Its peak lies 1,004 meters above sea level. From 80,000 to 100,000 tourists visit the resort each winter.

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Paper mill to appeal Siberian major ski resort sale

15:45 21/09/2011 The Baikalsk Pulp and Paper Mill will appeal the court's refusal to cancel the sale of the largest ski resort in Siberia to the Grand Baikal tour operator.
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