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Bank recovers $21.3 mln from compressor plant

17:08 19/10/2011

MOSCOW, October 19 - RAPSI, Natalia Belova. A commercial court sided on Wednesday with a foreign economic bank in its lawsuit for $21.262 million from a compressor plant, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

The court has ordered the Orsk Compressor Plant to pay the Bank for Development and Foreign Economic Affairs (Vnesheconombank) $18.764 million plus interest and penalty under a loan agreement.

The defendant stated at the hearing that the plant accepts its debt to the bank.

At the parties' request, the court went on to hear the case on its merits on Wednesday and passed its judgment.

According to earlier reports, the bank filed six lawsuits amounting to over 4.2 billion rubles ($135 million). The Moscow Commercial Court awarded the bank 2.069 billion rubles ($67 million) from the plant on October 12. The preliminary hearing of a $33.7 million lawsuit has been set for November 9. Additionally, the bank has claimed $5.9 million, $1.4 million and 3.4 million euro.

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Bank recovers $21.3 mln from compressor plant

17:08 19/10/2011 A commercial court sided on Wednesday with a foreign economic bank in its lawsuit for $21.262 million from a compressor plant.
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