MOSCOW, November 2 - RAPSI. A Luxemburg court cancelled the seizure of shares of Steel Invest and Finance, a 100-percent subsidiary of NLMK, imposed at the request of former MAXI-Group head Nikolai Maximov, NLMK's press-release reads.

NLMK is Russia's leading steelmaker.

Maximov's petition was based on the International Commercial Arbitration Court's March 31 decision to award him 10 billion rubles ($325 million) in his lawsuit against NLMK. A Moscow Commercial Court dismissed the decision in April.

Maximov, nevertheless, appealed to the Luxembourg court to enforce the decision against NLMK's subsidiary NLMK International BV.
According to the press-release, Maximov told the court NLMK International BV owed him funds. Therefore, the court seized the shares of Steel Invest and Finance owned by the debtor.

NLMK maintains that during the hearings it was established that NLMK International BV was not connected with the conflict, and Maximov tried to mislead the Luxemburg court and refract the Dutch law.

The court decided to lift a seizure of Steel Invest and Finance's shares.

The lawsuit filed by Maximov to the Luxemburg court is being examined, NLMK said.