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Hearing suit against Moscow Airlines to resume on June 26

10:56 26/05/2011

MOSCOW, May 25 - RAPSI, Sergei Feklyunin. The Moscow Commercial Court has postponed until June 26 hearing state-run Russian Technologies Corporation’s lawsuit against Moscow Airlines (formerly “Atalant-Soyuz”) to recover 2.362 billion rubles (approximately $82,937,140.5), the court reported to the Russian Legal Information Agency (RAPSI).

The postponement was brought about by the defendant’s decision in March to seek an out-of-court settlement.

The defendant’s motion for hearing the case privately was granted during the pre-trial stage of the suit.

Gazprombank has been involved in the action as a third party.

In 2008, the Russian Technologies Corporation served as guarantor of Atalant-Soyuz Airlines in its loan agreements with Gazprombank, VTB bank, and the Bank of Moscow. It repaid the loans on behalf of Atalant-Soyuz and is now seeking to collect repayment from the airlines, which is now known as Moscow Airlines.

Russia's aviation watchdog (The Federal Air Transport Agency) announced on January 14 that Moscow Airlines would cancel flights and stop operating after January 17, due to lack of financing.

The fate of the airlines is to be decided by its owners, including the Moscow government, which is the controlling shareholder.

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Hearing suit against Moscow Airlines to resume on June 26

10:56 26/05/2011 The Moscow Commercial Court has postponed until June 26 hearing state-run Russian Technologies Corporation’s lawsuit against Moscow Airlines (formerly “Atalant-Soyuz”) to recover 2.362 billion rubles (approximately $82,937,140.5).
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