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Severstal's dispute with grid companies to be heard on May 15

13:45 18/04/2012

ST. PETERSBURG - April 18 - RAPSI. The Moscow Commercial Court postponed until May 15 Severstal's lawsuit against FGC UES, IDGC of North-West and its subsidiary Vologdaenergo to partially invalidate electric grid facility lease contracts.

The postponement was connected with the need to provide additional evidence to the dispute participants.

Before the decision came into effect, the Vologda Region Commercial Court suspended the proceedings under Severstal's lawsuit against IDGC of North-West and Vologodskaya Sbytovaya Kompaniya on the recovery of unjust enrichment amounting to $30.02 million.

The electric grid lease contract under dispute was concluded on August 19, 2011. Severstal seeks the non-application of the treaty in court in regards to the parties' relations from July 1, 2008 to its signing.

Severstal is one of the world's leading vertically integrated steel mining companies, with assets in Russia, North America and Europe.

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Severstal's dispute with grid companies to be heard on May 15

13:45 18/04/2012 The Moscow Commercial Court postponed until May 15 Severstal's lawsuit against FGC UES, IDGC of North-West and its subsidiary Vologdaenergo to partially invalidate electric grid facility lease contracts.
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