VTB and Sberbank filed lawsuits to “Mechel” at 5.7 billion rubles – BBC Russian

• 19 May 2015

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“Mechel” is one of the world’s leading companies in the mining and metallurgical industries

VTB Bank filed a new lawsuit against the structures of the metallurgical company “Mechel” for the recovery of about 1.9 billion rubles.

As the material posted on the website of the Arbitration Court of Moscow, the defendants are ” “OAO, Korshunov Mining Plant and the coal company” Southern Kuzbass “.

The lawsuit went on May 12 further information on the site is not given.

Also, according to the information on the Court’s website, May 7 was registered lawsuit “Savings Bank” to recover from the “Mechel” debt of about 3.8 billion rubles.

In addition to the company, the defendants appear “Mecheltrans” Bratsk Ferroalloy Plant, “Chelyabinsk Metallurgical Plant” and “Mechel-Service”.

It became known yesterday that “Mechel” has appealed to the Moscow Arbitration Court lawsuit VTB loan agreement of 27 December 2010 on the amount of 50.2 billion rubles., which was filed in April.

Earlier, according to ” Kommersant “financial adviser” Mechel “Rothschild Group proposed a” Savings Bank “to convert part of the debt of the company in its shares, thereby allowing the opportunity for the first time. But it was only a minority stake, and its size is not defined.

The total debt of “Mechel” before creditors at the beginning of 2015, according to RBC, was 6.44 billion dollars, while approximately 70 % of the debt accounts for Gazprombank, Sberbank and VTB.

“Mechel” is one of the world’s leading companies in the mining and metallurgical industries, it includes manufacturing facilities in 11 regions of Russia, as well as in Lithuania and Ukraine.

In September 2014, the Minister of Economic Development of Russia Alexei Ulyukayev said that he considers the bankruptcy of “Mechel” inevitable.