Рейтинг@Mail.ru
RusEng

News

Court to hear appeal in $20 mln dispute between Alfa-Bank and textile factory

14:41 03/11/2011

MOSCOW, November 3 - RAPSI, Alyona Yegorova. An appeals court will hear on November 22 an appeal filed by a Moscow-based major knitwear factory against the court's decision to award $20 million to Alfa-Bank, the court told the Russian Legal Information Agency (RAPSI).

The factory challenged the Moscow Commercial Court's August decision to recover roughly $20 million from the factory, a loan debtor, and a construction company, the guarantor for the loan, including $19.26 in principal debt.

Alfa-Bank granted the loan to the factory in February 2007.

Founded in 1990, Alfa-Bank is the largest private bank in Russia in terms of assets, capital and client accounts.

The court also enforced a building in Moscow pledged as a security for the loan. The opening selling price of the property was set at $51.13 million.

The court held against the factory's counterclaim to declare the mortgage agreement null and void.

The court satisfied the banks claim partially as it initially demanded nearly $22 million.

Share thisE-mail this articlesubmit newsAdd to blogrss feed
Add to blog
To link to this material, copy the code to your blog.
Publishing code:
Preview:

Court to hear appeal in $20 mln dispute between Alfa-Bank and textile factory

14:41 03/11/2011 An appeals court will hear on November 22 an appeal filed by a Moscow-based major knitwear factory against the court's decision to award $20 million to Alfa-Bank.
Forward news story

All fields are mandatory!

Submit news

All fields are mandatory!

Share this

Top news