31 Aug 2009 12:34

VTB wins claim against Russian Machines

MOSCOW. Aug 31 (Interfax) - The Moscow Arbitration Court has ordered Russian Machines, a member of Oleg Deripaska's Basic Element (BasEl) holding, to pay the VTB bank almost 570 million rubles in debt.

An Interfax correspondent reports from the court room that the Russian Machines lawyer asked for an adjournment to enable it to settle out of court. "Five days would be enough," the lawyer said.

But the lawyer for VTB objected, saying previous attempts to settle out of court had failed.

The court rejected the plea for an adjournment and granted the claim.

The claim was originally for 669.987 million rubles, but some of this had been paid off. The court on Monday ordered Russian Machines to pay 541.9 million rubles in principal debt and the remainder in fines and penalties.

Russian Machines brings BasEl's automotive, railway and aviation engineering assets together. The assets include the GAZ automobile group.