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SUAL Partners files $55 mln suit against insurers

11:56 29/05/2012

MOSCOW, May 28 - RAPSI, Sergei Feklyunin. The Moscow Commercial Court registered a lawsuit by SUAL Partners Ltd, owned by Russian billionaire Viktor Vekselberg, to recover $55.2 million from Ingosstrakh and Alliance insurance companies.

The reason for the dispute was not specified. The lawsuit was submitted to court on May 21 and the date for the hearing has not yet been set.

RUSAL Sayanogorsk Aluminum Smelter, RUSAL pls, Rusak and RUSAL Global Management B.V. are third parties in the lawsuit.

Sual Partners, owned by Viktor Vekselberg and Leonard Blovatnik, holds a 15.8 percent stake in Rusal. Rusal is the world's leading aluminum producer. It accounts for roughly 10 percent of the world's aluminum production and 10 percent of alum earth production. Rusal has production assets in 19 countries and sells its products in Europe, North America and South-Eastern Asia.

Ingosstrakh is a leading insurance company, operating on international and domestic markets since 1947. It has offices in 220 Russian cities and towns, as well as subsidiaries and representative offices abroad.

The Alliance construction company was established in 1991. Allianz New Europe Holding GMBH, a subsidiary of leading insurer Allianz SE in Central and Eastern Europe, holds the controlling stake (100 percent minus one share) in the company.

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SUAL Partners files $55 mln suit against insurers

11:56 29/05/2012 The Moscow Commercial Court registered a lawsuit by SUAL Partners Ltd, owned by Russian billionaire Viktor Vekselberg, to recover $55.2 million from Ingosstrakh and Alliance insurance companies.
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