Ulyukaev: Mechel not to be saved from bankruptcy

​It won’t be possible to save Mechel from bankruptcy, Minister of Economic Development of Russia, A. Ulyukaev, said. The agency considered all the possible variants of regulation of the situation with a multi-billion debts of the enterprise, however, none of them can be used, he added.

The claim on Mechel’s bankruptcy is planned to be filed by VTB soon. However, the creditors said that they are ready not to start the proceedings if Mechel suggests an adequate plan of settling its debt. The meeting of Mechel’s head, I. Zyuzin, and the head of VTB, A. Kostin, is planned for this week.

Today Mechel’s debts make up $8 bln. Its creditors suggested the management of the enterprise converting them into shares, however, Mechel’s management didn’t support this variant.