Ernst & Young to appraise Baltiysky Zavod pledged shares
MOSCOW, November 7 - RAPSI, Alyona Yegorova. A court has appointed Ernst & Young to evaluate shares of Baltiysky Zavod, pledged as a security for loans granted by the Central Bank of Russia, the Russian Legal Information Agency (RAPSI) reported on Monday.
Ernst & Young was proposed by the Central Bank to appraise shares.
The Central Bank filed a petition for an expert report regarding the case in which the bank seeks to recover a 88.32-percent stake in Baltiysky Zavod. The shares were pledged under an agreement dated July 15, 2010 as a security for Mezhprombank loans worth roughly 32 billion rubles ($1.047 billion).
According to earlier reports, the shares were handed over to the management of the United Shipbuilding Corporation (OSK). OSK is taking over Baltiysky Zavod with its debts exceeding eight billion rubles ($ 261.95 million)