ST.-PETERSBURG, April 2 - RAPSI. The St. Petersburg and Leningrad Region Commercial Court will hear on May 14 a request by Sweden's Stena RoRo AB to include a $41 million debt due from Baltiysky Zavod shipyard in its schedule of accounts payable.

In September, the Supreme Commercial Court supported the decision passed by the Arbitration Institute of the Stockholm Chamber of Commerce awarding Stena RoRo AB over 20 million euro in damages caused by the non-execution of cargo vessels building contracts.

In 2005, Stena RoRo AB and Baltiysky Zavod signed contracts whereby the Russian shipyard agreed to build two vessels worth 58.8 million euros each for the Swedish company.

Later the parties entered into an option agreement for the construction of two similar vessels worth 59.4 million euros each.

Neither the contracts, nor the option agreement were executed. The Swedish company sued the shipyard in the Arbitration Institute seeking to recover its losses.

The court satisfied the suit, but the Russian shipyard refused to abide by the decision. Stena RoRo AB submitted a claim to the St. Petersburg Commercial Court requesting to recognize the award.

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