Sberbank has filed two more lawsuits demanding 720 and $53m from the coal company, Yuzhny Kuzbass, a subsidiary of Mechel, thereby now suing Yuzhny Kuzbass for a total sum of $$445mm. 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.
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.