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Siemens bankruptcy application regarding plant adjourned

14:03 06/02/2012

ST. PETERSBURG, February 6 - RAPSI. A commercial court has adjourned the proceedings in Siemens' appeal to recognize Vyborgskaya Cellulose's bankruptcy, the Supreme Commercial Court reported on its website.

Vyborgskaya Cellulose produces coniferous unbleached cellulose and coated cardboard, as well as packing paper for food, medicine and pharmaceuticals.

The case has been suspended before a decision in another lawsuit filed by Siemens against the company comes into effect. In this lawsuit, Siemens seeks to recover 565,240 euro and 3.48 million rubles ($115,421) under a contract to install an automated control system on three production sites. The contract was concluded in December 2007.

The Moscow Commercial Court satisfied Siemens' claims in September. The Ninth Commercial Court left the decision in force last December.

Vyborgskaya Cellulose appealed against the decision. The hearing date has yet to be scheduled.

The company also submitted to the Moscow Commercial Court an appeal to review the case under new circumstances. The appeal will be heard on February 10.

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Siemens bankruptcy application regarding plant adjourned

14:03 06/02/2012 A commercial court has adjourned the proceedings in Siemens' appeal to recognize Vyborgskaya Cellulose's bankruptcy.
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