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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 postponed 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. This was reported by Interfax from the court.

A Mechel representative during the last meeting confirmed that the parties had reached an agreement on restructuring Igor Zyuzin's debts to the bank. According to him, all the agreements reached will come into force after a certain period.

As reported, Mechel and VTB signed an agreement on debt restructuring for 70 billion rubles. The borrowers under the credit lines were Mechel itself, as well as its subsidiaries - OJSC Yuzhny Kuzbass, OJSC Yakutugol and PJSC ChMK. The loan agreements provide for a deferral of the repayment of the debt body until April 2017, with subsequent monthly repayment until April 2020.

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

Currently, Russian and foreign courts are considering a number of claims by VTB against Mechel and its subsidiaries, the largest of which is for 50,2 billion rubles. As reported, the Ninth Arbitration Court on December 9 postponed to January 21, 2016 the consideration of the ChMK's appeal against the decision to recover 50,2 billion rubles in favor of VTB.

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