Court lifts all restrictions on VW's Russian assets in GAZ's on lawsuit against German concern for 15.6 bln rubles

MOSCOW. April 13 (Interfax) - The Arbitration Court of the Nizhny Novgorod Region on Thursday annulled all interim measures in Gorky Automobile Plant's (GAZ) lawsuit against Volkswagen for claims totaling 15.6 billion rubles, an Interfax correspondent said from the courtroom.

The court specifically canceled the previously imposed arrest on the shares of foreign legal entities in Volkswagen's Russian subsidiary, Volkswagen Group Rus LLC, Germany, its co-owners: Volkswagen AG at 28.06%, Skoda Auto A.S. at 16.8%, and Volkswagen Finance Luxemburg S.A. at 55.14%. The court also removed the arrest from VW's shares in controlled Russian legal entities, including Volkswagen Components and Services LLC, Scania Leasing LLC, Scania Insurance LLC, and Scania Finance LLC.