MOSCOW, June 5 - RAPSI. The Moscow Commercial Court has suspended its hearing of the $34 million claim filed by ZiL, a major Russian truck and heavy equipment manufacturer, against its former management company, the court told the Russian Legal Information Agency.
ZiL claims that the management agreement was illegally extended from October 2008 until April 2011. The plaintiff seeks to recover the rewards paid to the company during the period.
ZiL's representative said at the hearing that they consider the agreement null and void, since it was not approved at the shareholders' meeting.
In turn, the defendant said "the agreement has nothing to do with the general shareholders' meeting."
ZiL's lawyer requested to have the hearing postponed as the truck manufacturer has not yet received a response to the claim and has not yet familiarized itself with the defendants stance.