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Deripaska quits $4.6 mln claim against paper mill

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12:58 27/09/2011

IRKUTSK, September 27 - RAPSI. Oleg Deripaska, one of the Russia's richest businessmen and the owner of Basic Element Group, has assigned his right to claim $4.6 million from Baikalsk Pulp and Paper Mill, the mill reported on Tuesday.

The oligarch granted a loan worth over 100 million rubles ($3 million) in November 2009 to the mill to pay salaries.

Deripaska filed a lawsuit claiming the loan back when a court ordered putting the mill into administration in 2010. The court held for the lawsuit in July.

Deripaska assigned the claim to Starion company. The new debt holder committed to transfer the debt amount by June 1, 2010 under the contract, the mill said.

Baikalsk Pulp and Paper Mill earlier suggested repaying the debt in equal installments by March 2012, but Deripaska rejected the suggestion.

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Deripaska quits $4.6 mln claim against paper mill

12:58 27/09/2011 Oleg Deripaska, one of the Russia's richest businessmen and the owner of Basic Element Group, has assigned his right to claim $4.6 million from Baikalsk Pulp and Paper Mill.
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