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Bank negotiates $32 mln settlement with rolling-stock lessor

17:11 14/10/2011

MOSCOW, October 14 - RAPSI, Dmitry Shchitov. Nomos-Bank has informed the court on Friday about its negotiations with a railway company on a settlement concerning a $32 million bond debt, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

The defendant has confirmed the claimant's statement, so the court has postponed the hearing until November 15.

Nomos-Bank is a holder of DVTG-Finace bonds. Yurganz, as part of the Far Eastern Transport Group (DVTG), undertook in June 2008 to buy the bonds if the issuer failed to perform its obligations, which occurred in February 2009.

Initially, the Moscow Commercial Court sided with the bank and ordered Yurganz to accept 1.003 million bonds on February 18, 2010. However, the appeals court overruled the judgment in June 2010.

Yurganz was established in 2001 for rolling-stock purchasing and leasing.

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Bank negotiates $32 mln settlement with rolling-stock lessor

17:11 14/10/2011 Nomos-Bank has informed the court on Friday about its negotiations with a railway company on a settlement concerning a $32 million bond debt.
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