Banks again raise the question of changing the owner of Mechel.

The hardest part according to the bankers is to find the right manager, who will be able to "pull" Mechel out of the debt pit.

The principal owner of JSC "Mechel" Igor Zyuzin can be removed from the company's management, leaving him with a 10 percent stake, the Russian media writes today.

The government and VEB – the main creditor of Mechel – could not agree on a plan to rescue the leading Russian mining and metals company, and now the major goal of Mechel’s salvation is the release of it’s convertible bonds for 180 billion roubles, which would be purchased by Vnesheconombank.

Under the new scheme of the Mechel’s support Gazprombank, VTB and Sberbank could allocate another 215 billion roubles, of which 180 billion will be spent on the purchase of the convertible bonds. VEB buys the bonds on the banks money. Thus, banks will replace Mechel with VEB as a debtor that will allow them to dissolve the reserves on these debts. In this case, VEB may suspend Zyuzin from the company's management.

However, the final decision on the scheme of support has not been made because VEB fears to receive a non-core asset in case Mechel will not be able to repay the new loan and it will be converted into the company's capital.