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MDM Bank's $15.9 mln lawsuit against developer suspended until February 13

13:12 12/12/2011

MOSCOW, December 12 - RAPSI, Natalia Belova. A court has adjourned until February 13, 2012 its hearing of the MDM Bank's $15.9 million lawsuit against Peresvet development group, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the court.

The court suspended the case at the parties' request as they are negotiating an amicable settlement.

The defendants in the case are Peresvet-Invest, the borrower, and guarantors under a loan agreement.

Earlier the Moscow Commercial Court postponed until January 17 its hearing of MDM's lawsuit to recover another $22.025 million from Peresvet companies.

The bank's lawyer said the parties were negotiating the settlement and requested to suspend the hearing to allow time to complete the negotiations.

Peresvet's parent company Peresvet-Invest was established in 1995 as a real estate agency. The group currently incorporates investment and development companies, agricultural as well as financial and insurance companies.

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MDM Bank's $15.9 mln lawsuit against developer suspended until February 13

13:12 12/12/2011 A court has adjourned until February 13, 2012 its hearing of the MDM Bank's $15.9 million lawsuit against Peresvet development group.
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