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Nordea Bank to claim $30 mln from SU-155 construction company

10:35 19/10/2011

MOSCOW, October 19 - RAPSI, Alyona Yegorova. A commercial court will hear the Nordea Bank's $30.85 million lawsuit against a building company on December 1, the Russian Legal Information Agency (RAPSI) reports.

The Nordea Bank is seeking to recover its loan extended in June 2007 and have execution levied on the pledged property.

The loan issued to SU-155 building company was set to mature in 2012. The bank requested its early repayment because SU-155 ceased to pay interest.
SU-155 building company declined the suit and intends to file a written objection.

Initially the bank claimed $29.6 million (about 867 million rubles) but on Tuesday raised its claim as the penalty period increased .

The court will also hear another Nordea Bank's 719.2 million ruble ($23 million)lawsuit against SU-155 on November 8.

SU-155 has been operating in the Russian construction sector for more than 50 years. SU-155 includes more than 150 independent organizations including 28 industrial enterprises in 17 Russian cities.

The Nordea Bank is a universal bank extending all banking services to individuals and legal bodies. Nordea, the Scandinavian group, has a 100% stake in the bank.

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Nordea Bank to claim $30 mln from SU-155 construction company

10:35 19/10/2011 A commercial court will hear the Nordea Bank's $30.85 million lawsuit against a building company on December 1.
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