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State investment bank wins $33.7 mln award from compressor plant

14:22 09/11/2011

MOSCOW, November 9 - RAPSI, Natalia Belova. A commercial court sided with a foreign economic bank in its lawsuit to recover $33.7 million from a compressor plant, the Russian Legal Information Agency (RAPSI) reported from the court on Wednesday.

The Orsk Compressor Plant produces compressors for household and industrial refrigerators. It is located in Orsk in the southern Urals.

The court ordered the Orsk Compressor Plant to pay the Bank for Development and Foreign Economic Affairs (Vnesheconombank) $27 million in loan debt plus interest and penalties.

The plant stated at the hearing that it recognizes its debt to the bank.

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State investment bank wins $33.7 mln award from compressor plant

14:22 09/11/2011 A commercial court sided with a foreign economic bank in its lawsuit to recover $33.7 million from a compressor plant.
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