Bank drops $33 mln lawsuit against rolling-stock lessor
MOSCOW, November 15 - RAPSI. A commercial court accepted on Tuesday Nomos-Bank's decision to drop its lawsuit against a railway company for $33 million in bond debt, the Russian Legal Information Agency (RAPSI) reports from the courtroom.
The bank has refused to comment on its waiver. However, the parties said settlement talks were under way in October.
Nomos-Bank is a holder of DVTG-Finace bonds. Yurganz, as part of the Far Eastern Transport Group (DVTG), undertook in June 2008 to buy the bonds if the issuer failed to perform its obligations to the bank, which occurred in February 2009.
Initially, the Moscow Commercial Court sided with the bank and ordered Yurganz to accept 1.003 million bonds on February 18, 2010. However, the appeals court overruled the judgment in June 2010.
Yurganz was established in 2001 for rolling-stock purchasing and leasing.