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The court laid aside 2 February 2016goda lawsuit VTB to recover from Mechel 2,7 billion rubles

The Moscow Arbitration Court on Friday postponed on 2 February 2016 the consideration of the lawsuit VTB to recover from Mechel OAO 2,7 billion rubles

The case was adjourned at the request of Mechel, supported by the bank. The petition is motivated by the fact that the debtor did not have time to fulfill the terms of the agreement. Reports about it "Interfax" from court.

A representative of Mechel during the last meeting confirmed that the parties had reached an agreement on restructuring the company's debt to Igor Zyuzin. According to him, all the agreements reached will take effect after a certain period of time.

As reported, Mechel and VTB signed an agreement on debt restructuring for 70 billion rubles. Borrowers on credit lines were made by Mechel itself, as well as its subsidiaries - OAO Yuzhny Kuzbass, OAO Yakutugol and PJSC ChMK. Loan agreements provide for the postponement of debt repayment until April 2017, followed by a monthly repayment until April 2020.

After signing, the sides stated that the agreements reached provide for the termination of the trials.

At present, a number of lawsuits of VTB against Mechel and its subsidiaries, the largest of which is 50,2 billion rubles, are being considered in Russian and foreign courts. As reported, the Ninth Arbitration Court of December 9 postponed the consideration of the CMP appeal against the decision to recover 21 billion rubles in favor of VTB on 2016 in January 50,2.

Mechel has been trying to negotiate the restructuring of its debt to major creditors since the beginning of 2014. To date, the company has entered into a restructuring agreement with VTB and Gazprombank. With the third lender - Sberbank - Mechel is still in the negotiation process. Oleg Korzhov, the company's general director, said earlier in December that he expects to sign an agreement with Sberbank in the near future.
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