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Leading shipyard sues second largest bank for $47.7 mln

15:21 11/11/2011

MOSCOW, November 11 - RAPSI. A commercial court registered a lawsuit of Northern Shipyard (Severnaya Verf) against VTB bank for $47.7 million, the court told the Russian Legal Information agency (RAPSI) on Friday.

Severnaya Verf shipyardSevernaya Verf shipyard

The Northern Shipyard is a leading shipbuilding enterprise. Its core products are naval ships and commercial vessels for a variety of purposes.

VTB Bank is Russia's second-largest bank in terms of assets. It was established in October 1990. The state owns an 85.5-percent stake in the bank.

The court has yet to determine the preliminary hearing date. The Defense Ministry, the Finance Ministry and the Bank for Development and Foreign Economic Affairs (Vnesheconombank) will act as third parties.

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Leading shipyard sues second largest bank for $47.7 mln

15:21 11/11/2011 A commercial court registered a lawsuit of Northern Shipyard (Severnaya Verf) against VTB bank for $47.7 million.
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