Sberbank has filed two more lawsuits demanding $445m and $53m from the coal company, Yuzhny Kuzbass, a subsidiary of Mechel, thereby now suing Yuzhny Kuzbass for a total sum of $720m. The first lawsuit was brought by the Russian government in May last year, accusing Yuzhny’s parent company of “criminal negligence” over its role in Russia’s 2014 annexation of Crimea.
Sberbank has filed two more lawsuits demanding $445m and $53m from the coal company, Yuzhny Kuzbass, a subsidiary of Mechel, thereby now suing Yuzhny Kuzbass for a total sum of $720m. Sberbank is one of Mechel's creditors, alongside VTB Bank and Gazprombank, however, unlike these banks, Sberbank has not approved of Mechel's debt restructuring plans, which we highlighted in April this year; as of September 1, Mechel's debts were about $6.313bn.