Russian court obliges Mechel to redeem 12.7 bln rbl to Atrix

ROSTOV-ON-DON, Jul 13 (PRIME) -- The Arbitration Court of the Rostov Region has obliged metals and mining company Mechel to redeem about 12.7 billion rubles of losses to Dutch company Atrix, owner of the Rostov Electrometallurgical Plant, a representative of the court told PRIME on Thursday.

The court ordered LLC NK Invest, Mechel-Steel, Mechel, and Mechel-Mining to redeem 5.085 billion rubles to the Rostov Electrometallurgical Plant, and Gennady Somov, Mechel-Steel, Mechel, and Mechel-Mining to redeem another 7.649 billion rubles to the plant, the representative said.

Previously, Konstantin Stepanov, a lawyer representing the plant, said that the plant was under Mechel’s management in 2009–2014, and the company bought raw materials for the plant from its subsidiaries at a higher price and later sold products of the plant to its affiliates at a lower price. As a result, other companies profited from operation of the plant.

Mechel denied all accusations and said that all deals with the Rostov Electrometallurgical Plant corresponded to the market situation at the time when they were done.

(60.6227 rubles – U.S. $1)

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