Decision on collection of over $10.6 million from Mechel in favour of Sberbank appealed

Mining and metallurgical company Mechel has appealed the collection of $10.6 million and 6.8 million rubles from its and its three subsidiaries for the claim of Sberbank, reported the court.

In May, the Moscow Arbitration Court upheld the Sberbank’s claim. The plaintiff demanded to repay the credit line on two contracts dated October 9, 2012 and two agreements on novation of these contracts, dated December 5, 2012 and March 4, 2013. The lawsuit was brought to the borrower - the coal company Yuzhny Kuzbass and its guarantors - Mechel, Mechel Mining and Holding Company Yakutugol.

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