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Aurora group to appeal $10 mln award denial

15:54 09/09/2011

ST. PETERSBURG, September 9 - RAPSI. The Aurora research and production group will appeal a first-instance courts judgment dismissing its claim for $10 million from Russia's oldest shipyard.

Aurora is challenging the St. Petersburg Commercial Courts August 5 decision to deny it the recovery of advance payments from the Baltiisky Zavod shipyard under a contract to produce, test and supply control systems for the worlds first floating nuclear power plant.

Baltiisky Zavod is constructing the stations power generating unit under an order from Rosenergoatom. The contract amount is 10 billion rubles ($357 million).
Aurora went to court because the shipyard failed to prepay the works since November. The court held against the lawsuit as the shipyard did not start the relevant activities before they were paid.

Aurora develops and manufactures control systems and instruments for civil and naval vessels.

Baltiisky Zavod is part of the United Industrial Corporation owned by former member of the upper parliaments chamber Sergey Pugachyov. In addition to building icebreakers and naval ships, the shipyard manufactures power engineering hardware.

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Aurora group to appeal $10 mln award denial

15:54 09/09/2011 The Aurora research and production group will appeal a first-instance courts judgment dismissing its claim for $10 million from Russia's oldest shipyard.
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