Court dismisses $8.6. mln lawsuit against leading baby food producer
MOSCOW, October 13 - RAPSI, Natalia Belova. An appeals court has upheld the lower-court's dismissal of a multimillion ruble lawsuit filed against Nutritek, the largest baby food producer in Russia, the court told the Russian Legal Information Agency (RAPSI).
Roinco Enterprises Limited, Bogatyri and Troika Dialog sought to recover 270.4 million rubles ($8.6 million) from the company for bond debt.
The claimants filed a lawsuit against Nutrinvestholding, the bond issuer, and Nutritek Baby and Special Food, the guarantor for the bond issue. The primary court held against the claimants and the appeals court upheld the judgment.
It was earlier reported that in 2009 the companies acquired 221,000 bonds issued by Nutrinvestholding at a par value of 1,000 rubles and a maturity date of 2014.
However, the companies decided to sue the bond issuer and its guarantor after it failed to pay the coupon yield.
Nutrinvestholding is the parent company of the Nutritek Group.
The Nutritek Group was established in 1990. It produces and sells baby and special food. The company operates five plants in Russia, Ukraine and New Zealand.