Рейтинг@Mail.ru
RusEng

News

$20 mln award to Alfa-Bank from textile plant remains in effect

13:29 24/07/2012

MOSCOW, July 24 - RAPSI. The Supreme Commercial Court has held against a major knitwear factory's request to reconsider the $20 million award for Alfa-Bank, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Tuesday.

The Moscow District Federal Commercial Court upheld the lower court's judgment to collect its loan debt from the factory in March.

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

Alfa-Bank granted the loan to the factory in February 2007. The court also enforced a Moscow building pledge, which served as the collateral for the loan. The property's opening price was set at $51.13 million.

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

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

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

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:

$20 mln award to Alfa-Bank from textile plant remains in effect

13:29 24/07/2012 The Supreme Commercial Court has held against a major knitwear factory's request to reconsider the $20 million award for Alfa-Bank.
Forward news story

All fields are mandatory!

Submit news

All fields are mandatory!

Share this

Top news