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Court to hear report on Novosibirsk Iron and Steel Works' bankruptcy

13:07 10/10/2011

MOSCOW, October 10 - RAPSI, Dmitry Shchitov. A court will hear on October 26 a report of Novosibirsk Iron and Steel Works' administrator on the bankruptcy progress, the court told the Russian Legal Information Agency (RAPSI).

The works is the only manufacturer of round shaped pipes and sheet products of various steel grades for engineering, utility services and construction at the trans-Ural Russia.

The Novosibirsk Region Commercial Court suspended bankruptcy proceedings at the works in April until a court decision on the Federal Tax Service's lawsuit enters into force.

The tax authorities challenged the March 1 decision made at the works' creditors meeting regarding a settlement execution.

The appeals court held against the tax service's lawsuit on May 23.

The Novosibirsk works, owned by ESTAR, stood idle from July 23, 2009 until it was transferred to Metallservice-Group.

Then the commercial court put the works into administration. Meanwhile, the new owner has put the plant into operation.

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Court to hear report on Novosibirsk Iron and Steel Works' bankruptcy

13:07 10/10/2011 A court will hear on October 26 a report of Novosibirsk Iron and Steel Works' administrator on the bankruptcy progress.
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