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Appeal in case of major Russian baby food producer to be heard in court

15:27 13/09/2011

MOSCOW, September 13 - RAPSI, Natalya Belova. The Ninth Commercial Court of Appeals will hear on October 11 an appeal against the refusal to award three companies 270.4 million rubles ($8.93 million) from subsidiaries of Nutritek, Russia's major baby food producer, the court told the Russian Legal Information Agency (RAPSI) on Tuesday.

Nutritek Group was founded in 1990. It comprises six companies producing baby and customized foods in Russia, Ukraine, Estonia and New Zealand, as well as logistics and sales service providers.

Roinco Enterprises Limited, Bogatyri Management Company and Troika Dialog purchased 221,000 bonds in Nutrinvestholding with a nominal value of 1,000 rubles ($33) each in 2009. The bonds were to be redeemed by 2014.

Since the company never paid the income under the second and third coupons, the companies filed lawsuits against Nutrinvestholding, the bonds issuer, and Nutritek Baby and Special Food, the guarantor under the bonded debts.

The companies sought to recover the bonded debts and interests.

Nutritek's attorney said in court that the lawsuit is unbiased and the companies are entitled to preliminary terminate bond agreements.

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Appeal in case of major Russian baby food producer to be heard in court

15:27 13/09/2011 The Ninth Commercial Court of Appeals will hear on October 11 an appeal against the refusal to award three companies 270.4 million rubles ($8.93 million) from subsidiaries of Nutritek, Russia's major baby food producer.
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