The court in Chelyabinsk will consider the claim of Alfa-Bank to Uralvagonzavod

MOSCOW, 10 Nov. The arbitration court of Chelyabinsk region on Tuesday will continue consideration of the claim of Alfa-Bank to the research and production Corporation “Uralvagonzavod” (UVZ, Nizhny Tagil) and its related companies concerning the recovery of 7.4 billion rubles, and 33.9 million and the foreclosure of the mortgaged property.

Earlier, the Bank filed this lawsuit in the Moscow arbitration, but the Ninth arbitration appeal court in June, according to the statement of one of defendants — LLC “Technopark “tractor factory” — decided to refer the case to another jurisdiction in the Chelyabinsk arbitration.

The court of appeal agreed with the arguments of the applicant that the disputes of the foreclosure of the mortgaged property shall be considered solely at the location of this property, despite the arbitration clause in the contract between the parties, the disputes in arbitration of Moscow. The third co-defendant at the suit of Alfa-Bank together with “Uralvagonzavod” and “Technopark” is LLC “CHTZ-Uraltrak”.

Cause of action — liability of the defendants on six loan agreements with maturity dates in 2016-2017. The Bank demanded to return money ahead of schedule due to breach of servicing obligations for loans and the deterioration of the financial condition of the borrower “CHTZ-Uraltrak”. Also requires the plaintiff to foreclose on the production, storage, administrative-household case the defendants owned the land.

Alfa-Bank at the meeting in September asked the court to allocate a monetary claim in a separate proceeding, but later withdrew his petition. At the same time, Alfa-Bank on September 17, submitted to arbitration of Moscow six claims against the same three defendants for a total amount of 7.4 billion rubles and more 30 million dollars. As explained in the capital’s arbitration court the representative of the Bank, claims filed under those credit agreements, but in cases specified other bases requirements.

Uralvagonzavod is the largest enterprise in the Russian tank engineering, a developer and manufacturer of freight wagons, gondola cars, cargo trucks, tank cars, fully owned by the state. Alfa-Bank on 20 may reported that the total debt of the group companies to the Bank is more than 10.5 billion and $ 72.2 million, the total amount of arrears — more than 3.4 billion rubles.

Russian authorities had previously agreed on the provision of government guarantees for UVZ about 20 billion rubles, the original application was 60 billion rubles. The Ministry of industry and trade reported that the value of state guarantees may be increased, if UVZ will justify the need for preparing the financial recovery plan.