MOSCOW, November 6 (RAPSI) – The Moscow Commercial Court on Thursday ordered Mechel Trans, subsidiary of the mining and metals company Mechel, to pay Sberbank over 95 million rubles ($1.5 mln), RAPSI reported from the courtroom.

The largest bank in Russia has filed the lawsuit against Mechel Trans because the company is a guarantor for another Mechel subsidiary, the Bratsk Ferroalloys, of a loan agreement dated August 14, 2010.

In late September, the Irkutsk Region Commercial Court ruled that Mechel and the Bratsk Ferroalloys must pay Sberbank over 95 million rubles ($1.5 million) in debt under the same loan agreement. The ruling has been appealed and has not taken effect yet.

Sberbank is one of Mechel’s three largest creditors, alongside VTB Bank and Gazprombank. But unlike these two banks, Sberbank is not satisfied with Mechel’s debt restructuring proposals it received in mid-April.

As of September 1, 2015, Mechel’s debts were estimated at $6.313 billion. The company has been negotiating the restructuring of its debts since early 2014.

Mechel is a leading global mining and steel company and currently the most debt-laden in the sector. It was established in 2003 and comprises over 20 companies that produce coal, iron ore, steel, rolled product, ferroalloys, heat and electricity.