Shares “Mechel” falling after the announcement of the new VTB lawsuit – BBC Russian

Shares "Mechel" falling after the announcement of the new VTB lawsuit – BBC Russian

• December 29, 2014

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Shares “Mechel” stepped reduction VTB following statements about the coming new to this lawsuit Russian mining and metals companies.

By 12:40 MSK shares “Mechel” became cheaper by 10.8%, according to the Moscow stock exchange.

Russia’s second largest state bank VTB is preparing a lawsuit to “Mechel” for the recovery of about 47 billion rubles, told RIA Novosti news agency, the press service of the bank.

In early December, the Moscow Arbitration Court upheld the claim of VTB to recover from the “Mechel “3 billion rubles overdue interest in favor of the bank. During the trial, it was reported that in November VTB notified “Mechel” ahead of the need to fulfill obligations under the loan agreements in the amount of 47 billion rubles.