Mechel’s claim against the collection of 50.2 bln roubles by VTB is postponed until December

​The company owes VTB.

The Ninth arbitration Court of Appeal has postponed until December 9th the hearing by the appeal of Mechel for the decision of the Arbitration Court of Moscow which collected 50.2 bln roubles from the company in favor of VTB.

A representative of VTB said in Court that the company would revoke the claim as soon as it is paid interest by Mechel in conformity with the agreements.

The hearing by this case was held on November 9th. The claim concerns the loan agreement signed in 2010. VTB asked to settle the loan in advance when the borrower stopped to maintain it in March 2014.

Mechel and VTB agreed on the restructuring of the debt (in total Mechel owes $1.1 bln and 77 bln roubles to the bank). The debt will be restructured for the total amount of 70 bln roubles.