ST. PETERSBURG, July 9 - RAPSI. The Thirteenth Commercial Court of Appeals will hear on August 22 the Swedish Stena RoRo's appeal against the decision to satisfy its claims against the Baltiysky Zavod shipyard after main creditors.

Baltiysky Zavod is part of the United Industrial Corporation.

The company seeks to hasten the recovery of 1.2 billion rubles ($36.24 million) in debt from the shipyard, and disputes the St. Petersburg and Leningrad Commercial Court's ruling dated May 22.

Last September, the Supreme Commercial Court upheld a Stockholm arbitration institute's decision to award Stena Ro Ro AB 20 million euro in its lawsuit against the Russian Baltiysky Zavod icebreaker manufacturer.

In 2005, Stena RoRo AB and Baltiysky Zavod signed contracts under which the shipyard agreed to build two vessels worth 58.8 million euro each for the company.
An option agreement was also concluded. The agreement allowed for the construction of two similar vessels worth 59.4 million euro each.
Neither the contracts, nor the option agreement were implemented.

The Swedish company later submitted a lawsuit to the Arbitration Institute of the Stockholm Chamber of Commerce, seeking to recover the losses that it suffered from the non-execution of the contracts.

The court satisfied the lawsuit, but the shipyard refused to abide by the decision.

Stena RoRo then submitted a claim with the St. Petersburg Commercial Court, requesting to recognize the Swedish commercial court's decision.

Baltiysky Zavod is part of the United Industrial Corporation owned by Senator Sergey Pugachyov. The factory builds icebreakers and military vessels. It manufactures a range of engineering products and energy equipment and supplies nonferrous and core-mold castings.

Stena Ro Ro AB is a major Swedish shipyard.