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Court postpones choosing Iceberg stake assessor

16:43 28/10/2011

MOSCOW, October 28 - RAPSI, Natalya Belova. The Moscow Commercial Court will once again hear on November 7 the case on which expert organization will assess the Iceberg Central Design Bureau's shares pledged under Bank of Russia loans to Mezhprombank, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

The court postponed the hearing because Iceberg filed on Friday an incomplete set of the documents needed for the expert report.

Earlier, the Bank of Russia filed a petition for an expert report to assess the pledged Iceberg shares. The Bank of Russia proposed Ernst and Young as the assessor. Ernst and Young's services will cost 2 million rubles ($67,000).

The respondent parties proposed another option - Deloitte and Touche CIS. The cost of its services will amount to 1.5 million rubles, the respondent parties said.
Iceberg and Mezhprombank are participating as third parties.

The security and pledge contracts were concluded to secure an agreement dated July 8, 2010 on restructuring the debt under the loans extended to Mezhprombank. The representatives of the respondent parties told the court that in their view the lawsuit was unfounded. They made no offenses in repaying the loan. The Bank of Russia had not filed any claims for its early repayment, the representatives said.

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Court postpones choosing Iceberg stake assessor

16:43 28/10/2011 The Moscow Commercial Court will once again hear on November 7 the case on which expert organization will assess the Iceberg Central Design Bureau's shares pledged under Bank of Russia loans to Mezhprombank.
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