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Appeal against denial of $9.3 mln collection from shipyard to be heard on April 5

15:23 16/02/2012

ST.-PETERSBURG, February 16 - RAPSI. A federal commercial court will hear on April 5 the Aurora concern's appeal against lower-court judgments dismissing its $9.3 million lawsuit against Baltiysky Zavod, the Supreme Commercial Court reports on its website.

Aurora has challenged the St. Petersburg and Leningrad Regional Commercial Court's August 5 decision upheld by the Thirteenth Commercial Appeals Court in early December.
The decisions denied Aurora the collection of advanced payments under a contract on the development of control system components for a power unit ordered by Rosenergoatom for the worlds first floating nuclear power plant. The contract amount was equal to 10 billion rubles ($334 million).

Aurora went to court as the shipyard failed to provide advance financing as of November 2010. The court dismissed the lawsuit as Aurora did not start the works prior to their advance payment.

"The plaintiff has acknowledged at the hearing that the works for which it seeks advance payment have not been executed and delivered to the defendant," the trial court records read.

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Appeal against denial of $9.3 mln collection from shipyard to be heard on April 5

15:23 16/02/2012 A federal commercial court will hear on April 5 the Aurora concern's appeal against lower-court judgments dismissing its $9.3 million lawsuit against Baltiysky Zavod.
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