MOSCOW, April 17 - RAPSI. The Ninth Commercial Court of Appeals postponed until May 15 the hearing of the SU-155 development company's appeal against the Moscow Commercial Court's decision to award Nordea Bank $31.364 million in debts.

On Monday, the appellate instance heard each party and deferred the hearing under its own initiative.

SU-155 does not agree with the bank's approach towards debt recovery and the order for the accrual of interests for the use of a loan.

On February 14, the Moscow Commercial Court recovered more than $31 million in loan debts from SU-155 in favor of Nordea Bank. The recovered debt includes $28.799 million for loans granted in June 2007, as well as interest and penalties. In order to pay the debt, the Moscow Commercial Court has levied execution on the property pledged under credit.

SU-155 has been operating on the Russian construction sector for over 50 years. It comprises over 150 independent organizations, including 28 industrial enterprises in 17 cities.

Nordea Bank is a universal bank offering banking services to individuals and legal bodies. The Scandinavian Nordea group owns a 100-percent stake in the bank.