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Siberian bank wins $4 mln lawsuit against Baltiysky Zavod shipyards

11:30 18/10/2011

ST.-PETERSBURG, October 18 - RAPSI. A commercial court has satisfied a Siberian bank's lawsuit against the Baltiysky Zavod shipyard to recover $4 million in debt under loans, the court records read.

Khanty-Mansiisk Bank sought the shipyard's debt under credit facilities provided between April and November 2010.

The St-Petersburg Commercial Court is also considering lawsuits filed by state-run Rosmorport for 386 million rubles ($12.6 million) for the late completion of the Moscow and the St.Petersburg icebreakers, Aurora concern for 278.39 million rubles ($9 million) under an agreement to deliver a power unit for the world's first floating nuclear power plant and Armalit-1 for 114 million rubles ($3.7 million) in payment for supplied products.

The latest collection order was issued by the Supreme Commercial Court on September 13: the court's presidium approved the Stockholm arbitration tribunal's 20 million euro award in favor of Stena RoRo AB, Sweden, as losses from the failure to execute contracts on building cargo vessels.

The Baltiysky Zavod manufactures icebreakers, naval and cargo ships, as well as power engineering hardware.

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Siberian bank wins $4 mln lawsuit against Baltiysky Zavod shipyards

11:30 18/10/2011 A commercial court has satisfied a Siberian bank's lawsuit against the Baltiisky Zavod shipyard to recover $4 million in debt under loans.
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