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Belarusian utility repays $10 mln debt to Russia's Alfa-Bank

12:20 03/02/2012

MOSCOW, February 3 - RAPSI, Natalia Belova. Brestenergo fully repaid $10 million in debt to Alfa-Bank under a loan agreement, the parties stated at the Moscow Commercial Court on Thursday.

Established in 1990 Alfa-Bank is Russia's largest bank in terms of assets, own capital and client accounts.

Brestenergo has several power plants and generates, transmits and distributes electric and thermal power.

Earlier, the Russian Legal Information agency (RAPSI/rapsinews.com) reported that the bank initially sought $10.517 million. As the company partially repaid its debt in November, the bank cut the claim down to $5.862 million.

The bank said that, although, the utility paid off the principal amount, still outstanding are the $1.161 million interest and the penalty roughly amounting to $140,000. Brestenergo disagreed with the amount of interest and penalty.

Having heard the parties arguments, the court ruled to collect from Brestenergo $1.161 million in interest, but reduced the penalty amount by 66.7 percent.

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Belarusian utility repays $10 mln debt to Russia's Alfa-Bank

12:20 03/02/2012 Brestenergo fully repaid $10 million in debt to Alfa-Bank under a loan agreement.
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