Rusal achieves amicable agreement with Sual

On January 15th, the Board of Directors of UC Rusal approved the terms of the amicable agreement concerning arbitration proceedings in the London Arbitration court, opened by SUAL Partners against Glencore, EN+ Group,UC  Rusal and Oleg Deripaska, the Hong Kong Exhanges reported.

Claims against UC Rusal were settled due to negotiations. In accordance with amicable agreement, after the fulfillment of certain preliminary conditions, the arbitration proceedings against UC Rusal will be terminated and Sual will withdraw its demands of judicial restraint to fulfill, terminate and compensate losses concerning long-term supply contracts that are object of these proceedings. The company doesn’t make any payments, as well as doesn’t undertake any financial obligations in accordance with terms of the amicable agreement.