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Steel giant's $70 mln lawsuit to be considered in February

14:09 20/01/2012

MOSCOW, January 20 - RAPSI. A commercial court has postponed until February 15 the preliminary hearing of the Novolipetsk Iron & Steel Corporation's (NLMK) lawsuit against the Stalkonstruktsiya Concern, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).

NLMK seeks $70 million in debt from the company.

The court has declined to provide a reason for the delay.

NLMK seeks 2.07 billion rubles ($65.7 million) in unjust enrichment and the cost of borrowing between December 2, 2010 and October 3, 2011, equal to 144.7 million rubles ($4.6 million).

NLMK is one of the largest steel producers in the world. The company produced 11.5 million tons of steel and earned $8.4 billion in 2010. Vladimir Lisin is NLMK's primary beneficiary.

Stalkonstruktsiya unites two research and design institutes, 14 plants and 24 assembly companies.

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Steel giant's $70 mln lawsuit to be considered in February

14:09 20/01/2012 A commercial court has postponed until February 15 the preliminary hearing of the Novolipetsk Iron & Steel Corporation's (NLMK) lawsuit against the Stalkonstruktsiya Concern.
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