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Moscow Airlines appeals judgment over $82 mln lawsuit

12:00 09/11/2011

MOSCOW, November 9 - RAPSI, Alyona Yegorova. A commercial court registered an appeal filed by Moscow Airlines against the recovery of $82.17 million in favor of state-run Russian Technologies Corporation, the court told the Russian Legal Information Agency (RAPSI) on Wednesday.

Moscow Airlines was previously known as Atlant-Soyuz. The airlines shareholders decided to rename the company into Moscow Airlines on July 23, 2010.

The Moscow Commercial Court upheld Russian Technologies's lawsuit in full on September 16.

In 2008, the Russian Technologies Corporation served as guarantor for the loans granted by Gazprombank, VTB Bank, and the Bank of Moscow to Atlant-Soyuz. Russian Technologies repaid the loans on behalf of the airline and then sought to recover the debt from Atlant-Soyuz.

The court heard the case behind the closed doors and repeatedly postponed it. The case was postponed in March after the airline said it sought to settle the dispute. The claimant also agreed to enter in the amicable agreement. During the preliminary stage the judge upheld the airline's appeal to hear the case behind closed doors.

Gazprombank was a third party to the dispute.

The court has yet been hearing two other lawsuits filed by Russian Technologies against Moscow Airlines, in which the company claims to award $16.31 million in loan debt to the Bank of Moscow and $5.61 million to VTB Bank.

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Moscow Airlines appeals judgment over $82 mln lawsuit

12:00 09/11/2011 A commercial court registered an appeal filed by Moscow Airlines against the recovery of $82.17 million in favor of state-run Russian Technologies Corporation.
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