Petition on Mechel’s bankruptcy was submitted to the Arbitration Court

​In July the decision on collection of about 732 mln roubles from Mechel in favor of “Project financing”. The Arbitration Court registered the request of “Project financing” on proving Mechel bankrupt.

The Arbitration Court of Moscow registered the petition of “Project financing” asking to prove Mechel bankrupt.

It was filed on August 12th, the date of consideration hasn’t been appointed.

In September 2012 Mechel and “Project financing” signed an agreement for rendering of consultation services on the organization of financing of the realization by Mechel projects of VEB. As a result of the tendered services, the supervision committee of VEB in September 2013 approved the issue of loans to Elgaugol Ltd for the total amount of $2.65 bln for the completion of the first stage of the project of construction and development of the Elga coal deposit.