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Energy retailer appeals $4.4 mln award for Rosenergoatom

15:02 26/01/2012

ST. PETERSBURG, January 26 - RAPSI. An appeals court will hear on February 14 the appeal by Kola Energy Retail Company against the lower court decision to award Rosenergoatom $4.41 million, the court records read.

Kola Energy Retail Company (Kolenergosbyt) was registered on October 1, 2005. The company is a guaranteed power supplier of Murmansk Region.

Kolenergosbyt challenges the Moscow Commercial Court's November decision pursuant to which the company was to pay a debt for power consumption between January and June 2011.

The Rosenergoatom Concern exploits all nuclear power plants of Russia and is one of main creditors of Kolenergosbyt. According to the retail company's report, its debt to Rosenergoatom amounted to 1.07 billion rubles ($35.04 million).

In late September last year, the Moscow District Federal Commercial Court dismissed the appeal of Kola Energy Retail Company against the lower court decision on the recovery of 937.43 million rubles ($30.7 million).

In December, the company reported that it reached an agreement on the debt's restructuring with Rosenergoatom. The debt from the customers' failure to pay for the power in time.

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Energy retailer appeals $4.4 mln award for Rosenergoatom

15:02 26/01/2012 An appeals court will hear on February 14 the appeal by Kola Energy Retail Company against the lower court decision to award Rosenergoatom $4.41 million.
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