ST.-PETERSBURG, May 22 - RAPSI. The Supreme Commercial Court has opened supervisory proceedings in Siemens' appeal to review the decision to reverse the collection of 565,240 euro and $125,800 from Vyborgskaya Cellulose under an equipment installation contract, the court reports on its website.
Siemens seeks to reconsider the Moscow District Federal Commercial Court's judgment issued in early April upon the mill's request. The decision overruled lower-court judgments to collect for Siemens the amount due under a December 2007 contract to install automated control systems in three production areas.
The case was referred to the Moscow Commercial Court for a review scheduled for June 20.
In February, the court suspended the bankruptcy proceedings against Vyborgskaya Cellulose upon Siemens' request until the debt collection decision enters into force.
Vyborgskaya Cellulose was established on the basis of the bankrupt Vyborg Pulp & Paper Mill, which was built in the late 1920s by the Finnish Hackman & K. It started production in May 1927. The mill produces unbleached softwood sulfite pulp, coated board and paper for food products, medical preparations packing and chemicals.