VTB refused the claim to “Mechel” by 2.7 billion rubles

VTB refused the claim to “Mechel” by 2.7 billion rubles

Moscow. 2 February. VTB refused the claim about collecting with “Mechel” 2.7 billion rubles. The court dismissed the proceedings.

The representative of “Mechel” during the last meeting confirmed that the parties had reached agreement on restructuring the debts of the company Igor Zyuzin. According to him, all these agreements will come into force after a certain period of time.

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Mechel and VTB signed an agreement to restructure its debt by 70 billion rubles. Borrowers on lines of credit were made by itself “Mechel” and his “daughter” – OJSC “South Kuzbass”, JSC “Yakutugol” and JSC “CHMK”. The credit agreements provide for a deferral of the repayment of the principal until April 2017 followed by a monthly repayment until April 2020.

After signing, the parties said that their arrangements provide for the termination of proceedings.

Currently in Russian and foreign courts considered a number of claims VTB to “Mechel” and its subsidiaries, the largest of which 50.2 billion. As reported, the Ninth arbitration court of 21 January 2016 discontinued the proceedings in a suit for recovery of 50.2 billion rubles in favor of VTB in connection with the refusal of the Bank from the requirements.

Mechel is trying to negotiate the restructuring of its debt to the largest creditors since the beginning of 2014. To date, the company entered into a restructuring agreement with VTB and Gazprombank. With the third lender – Sberbank Mechel is still in the negotiation process. CEO Oleg Korzhov earlier in December, said that he expects to sign the agreement with Sberbank in the near future.

According to the materials of Mechel, as of December 10, the company’s debt was $6,178 billion, of which 68% was accounted for by state banks.