MOSCOW, January 18 - RAPSI, Sergei Feklyunin. A commercial court ordered Moskva Airlines (formerly "Atlant-Soyuz") to pay Russian Technologies State Corporation $16.8 in debt (including the principal amount of $14.6 million), the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Wednesday.
According to the source, the award was made on January 12. The hearings were held in private. The Bank of Moscow acted as a third party.
Court records say the plaintiff executed the defendant's liabilities under the September 22, 2008, loan agreement with the bank. The corporation sought both the principal debt and the interest.
Russian Technologies State Corporation filed three lawsuits to recover funds from the airline in December 2010.
The lawsuits stem from the fact that in 2008, Russian Technologies State Corporation served as guarantor of Atlant-Soyuz Airlines in its loan agreements with Gazprombank, VTB bank, and the Bank of Moscow. It repaid the loans on behalf of Atlant-Soyuz and is now seeking to collect repayment from the airlines, which is now known as Moskva Airlines.
Moskva Airlines cancelled its flights and stopped operating in January due to lack of financing.
Moskva requested the Federal Air Transport Agency to transfer its rights to international flights to UTair.