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Major shipyard challenges $1.5 mln collection for Savings Bank

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16:24 25/11/2011

ST.-PETERSBURG, November 25 - RAPSI. A commercial court has registered a shipyard's appeal against the ruling that the company must pay $1.5 million in debt to Savings Bank (Sberbank), the court's records read.

The North-Western District Federal Commercial Court has yet to schedule the hearing date.

The bank seeks an outstanding amount under a revolving credit facility agreement dated October 14, 2009 due to the borrower's failure to pay interest.

The Baltiysky Zavod builds icebreakers, naval and large-capacity cargo ships. It also manufactures engineering products and energy equipment and supplies nonferrous and core-mold castings.

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Major shipyard challenges $1.5 mln collection for Savings Bank

16:24 25/11/2011 A commercial court has registered a shipyard's appeal against the ruling that the company must pay $1.5 million in debt to Savings Bank (Sberbank.
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