VTB says talks with Mechel ongoing
MOSCOW. April 9 (Interfax) - VTB said debt negotiations with the Mechel coal and steel company were ongoing.
The Moscow Arbitration Court on April 9 granted a claim filed by the bank against Mechel for 50.2 billion rubles in debt.
"We continue to conduct negotiations with Mechel. Litigation is proceeding in the legally prescribed manner until the situation has been resolved," VTB's press office told Interfax.
At the court session on Thursday, Mechel representatives asked to review the matter with the participation of arbitration court assessors, referring to the special complexity and resonance of the proceedings.
The sum of 50.2 billion rubles is about 10% of the regional GDP of the Kemerovo region, where a number of Mechel's enterprises are located, the company's lawyers said.
"Both participants in the dispute are deeply integrated in the economic system of Russia, and their actions cause relevant consequences for the regions where they conduct their activity. We think that the requirement on debt collection in the amount of more than 50 billion rubles may cause irreversible social consequences for the regions. It is worth noting that the collection of funds will be paid out of the net profit of enterprises," the Mechel representative said.
The court refused to satisfy that request of the company.