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Russian agricultural companies appeal $20 mln award to BNP Paribas

15:24 14/10/2011

MOSCOW, October 14 - RAPSI, Natalia Belova. An appeals court has registered an appeal filed by Russian agricultural companies against a court decision to award $20 million to BNP Paribas, a subsidiary of the French BNP Paribas Group, the court told the Russian Legal Information Agency (RAPSI).

The primary court awarded the bank $19.989 million in principal debt and $10,300 in penalties in its lawsuit against Kubankhlebproduct and Rosinteragroserviceо. The court also ordered Kubankhlebproduct to pay $69,600 in penalties for loans.

The bank initially sought to recover $20.069 million, but later increased the claim to $20.378 million. The bank claimed $19.989 million in principal debt and $388,700 in penalties for five loan contracts signed in 2010.

BNP Paribas has been operating since 2002. Among other services, the bank provides loans to Russian companies.

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Russian agricultural companies appeal $20 mln award to BNP Paribas

15:24 14/10/2011 An appeals court has registered an appeal filed by Russian agricultural companies against a court decision to award $20 million to BNP Paribas, a subsidiary of the French BNP Paribas Group.
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