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Court to hear airlines appeal in $79.18 mln case on February 18

Tags: Russia, Moscow
14:02 23/01/2012

MOSCOW, January 23 – RAPSI, Sergei Feklyunin. A commercial court of appeals set February 16 to hear the appeal by Moskva Airlines (formerly "Atlant-Soyuz") against the Moscow Commercial Court’s decision to award Russian Technologies State Corporation $79.18 million, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Monday.

On September 16 the commercial court upheld in full the lawsuit by the state corporation. In 2008 the corporation was Atlant-Soyuz’s guarantor in a credit, which was granted to the airlines by Gazprombank. Then the corporation submitted to court a lawsuit against the borrower requiring to recover losses.

During the preliminary stage Judge Dmitry Kotelnikov agreed to hear the case behind closed doors upon the defendant’s request.. Gazprombank was a third party to the case.

The Moscow Commercial Court satisfied claims on two other similar lawsuits by Russian Technologies against the airline on the recovery of 581 million ($16.92 million) under a loan granted by the Bank of Moscow and 180.5 million rubles ($5.75 million) under a loan granted by VTB Bank.

Moskva Airlines cancelled its flights and stopped operating in January due to lack of financing. The Moscow government holds a controlling stake in the airlines.

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Court to hear airlines appeal in $79.18 mln case on February 18

14:02 23/01/2012 A commercial court of appeals set February 16 to hear the appeal by Moskva Airlines (formerly "Atlant-Soyuz") against the Moscow Commercial Court’s decision to award Russian Technologies State Corporation $79.18 million, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Monday.
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