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 .
The Moscow Arbitration Court on Monday authorized peaceful settlement of a US $273m and 1.7bn ruble debt, of a $172m and 1.6bn ruble debt, and a $224m debt of Southern Kuzbass Coal Company, unit of metals 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.