Transfer of Baltiysky Zavod's shares to Central Bank's ownership extended
MOSCOW, December 2 - RAPSI. A commercial court has suspended the execution of a lower-court decision dismissing the transfer of 88.32 percent of Baltiysky Zavod's shares to the Central Bank's trust ownership, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Friday.
The Baltiysky Zavod shipbuilding company is part of the United Industrial Corporation owned by Senator Sergey Pugachyov. The shipyard builds icebreakers, large vessels and combat ships.
The Ninth Commercial Court of Appeals upheld the Central Bank's application to suspend the judicial act submitted on the same day.
The Ninth Commercial Court of Appeals dismissed the Moscow Commercial Court's decision on November 29, which obligated the holders of Baltiysky Zavod's pledged shares to transfer them to the trust ownership of the Central Bank.