MOSCOW, Dec 21 (PRIME) -- The Moscow Arbitration Court on Monday authorized peaceful settlement of a U.S. $273 million and 1.7 billion ruble debt, a $172 million and 1.6 billion ruble debt, and a $224 million debt of Southern Kuzbass Coal Company, unit of metals producer Mechel, to Russia’s Sberbank. Sberbank raised the sum of penalty in change for the settlement of the $273 million and 1.7 billion ruble debt. The new claim amount was not disclosed. A representative of Sberbank said that the final agreement on Mechel’s debt restructuring has not been signed yet. “The amicable agreements are the first stage in a complex process of Mechel’s debt restructuring but completion of a range of more requirements is necessary for its completion.” A Mechel representative said that other affiliates of the company can soon sign restructuring agreements with Sberbank as well. (71.3215 rubles – U.S. $1) End 21.12.2015 17:03
The joint Arbitration Court on Monday authorized peaceful settlement of a combined $ 273 million and 1.7bn ruble debt , of a $ 172 m and 1.6bn ruble debt , and a $ 224 million debt of the petroleum Coal Company , unit of oil producer Mechel , to Russia ’s Sberbank . A Mechel representative said that other affiliates of the company will also soon be able to sign restructuring agreements with Sberbank . Sberbank is understood to have increased the penalty charged on the first of those debts .