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Gazprombank sues Far Eastern steel manufacturer for $99.6 mln

14:30 04/10/2011

MOSCOW, October 4 - RAPSI, Sergei Feklyunin. The court will hear on November 1 a $99.6 million lawsuit filed by Gazprombank, a major Russian bank, against a Far Eastern steel manufacturer, the court told the Russian Legal Information Agency (RAPSI).

Khabarovsk governor Viktor Ishayev said in April 2009 that Amurmetal, a largest flat steel manufacturer in the Far East, might obtain a 3.3 billion ruble ($101.2 million) loan from Russian banks due to financial troubles. He also said the loan might be secured by Khabarovsk authorities.

The Khabarovsk Territory Commercial Court received the lawsuit on September 23. The court allowed the claimant to participate in the hearing via video conferencing communication from the Moscow Commercial Court.

RAPSI has yet to obtain information on the dispute.

Founded in 1990, Gazprombank is the head bank of Gazprombank Group which incorporates banking, petrochemical and media assets. Gazprombank operates 43 divisions and five daughter banks. It also has stakes in three foreign banks.

Amurmetal is the largest steel manufacturer in the Far East. It operates steelmaking facilities capable to produce 2.15 million tones of steel per year.

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Gazprombank sues Far Eastern steel manufacturer for $99.6 mln

14:30 04/10/2011 The court will hear on November 1 a $99.6 million lawsuit filed by Gazprombank, a major Russian bank, against a Far Eastern steel manufacturer.
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