The Moscow Arbitration Court on 1.7bn authorized peaceful settlement of a US $273m and Monday 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.
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.