Krasny Oktyabr, Oil and Gas

Rostec doesn’t want legal battle with creditor of Krasny Oktyabr in London

State-owned corporation Rostec and company RT-Capital, controlled by it, have received the right to appeal the decision of the London court to put them as defendants on the suit of the London branch of the Austrian Erste Group Bank AG (Erste), one of the creditors of the bankrupt Volgograd metallurgical plant Krasny Oktyabr.
The Volgograd plant was granted a loan for $80 million in accordance with the contract dated 2007. One of the creditors was Erste, the court documents state. However, the terms of payment in the amount of 1.66 million expired in July 2009, the debtor didn’t fulfilled its obligations. Erste claims that this was made intentionally, in collusion between Rostec and other defendants, controlled by the state-owned corporation in order to deprive the borrower and the guarantor on the loan of assets and to announce their insolvency.

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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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