Sberbank has refused from the claim against Mechel due to the debt settlement

​The Arbitration Court of Moscow has terminated the proceedings by the claim of Sberbank against Mechel and 4 its affiliates on the collection of $1.2 mln.

The claimant asked to settle the debt by the bank guarantee agreement as of September 23rd 2013 and to collect the property security by the monetary funds receivables pledge agreement as of February 8th 2013. On Monday a representative of Sberbank reported of the settlement of the debt by the respondent and refused from the claim.

Besides Mechel OJSC the respondents by the claim were Bratsk ferroalloys plant Ltd, Mechel-Service Ltd, Mechel-Trans Ltd, Chelyabinsk metallurgical plant OJSC. Mechel Trading (Switzerland) was the 3rd party at the preliminary hearings.

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