Ernst & Young to appraise design bureau's shares pledged at Central Bank
MOSCOW, November 7 - RAPSI, Natalia Belova. A court approved Ernst & Young to evaluate shares of the Iceberg central design bureau pledged as a security for the $1 billion loan granted by the Central Bank of Russia to Mezhprombank, the Russian Legal Information Agency (RAPSI) reported on Monday.
The Moscow Commercial Court upheld the Central Bank's request to appoint Ernst & Young as an appraiser. Meanwhile, the court postponed until December 14 the Central Bank's petition to recover a 64.82-percent stake in Iceberg as it expects to obtain an expert report by mid December.
The security and pledge contracts were concluded to secure the July 8, 2010 agreement on restructuring the debt under loans extended to Mezhprombank. 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.