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$87mln action against Defense Export Corporation to be heard on March 5

15:03 27/02/2012

MOSCOW, February 27 - RAPSI. The Moscow Commercial Court has adjourned until March 5 the consideration of the Ametech, artillery weapon producers lawsuit against Defense Export Corporation (Rosoboronexport) to recover $87.84 million, the Russian Legal Information Agency (RAPSI/rapsinews.ru) reports from the courtroom.

Ametech Chief Engineer Vladimir Vishnevsky told RAPSI that the company received a foreign arms development order in 2001, but failed to fulfill it in a timely manner due to a lack of customer financing. Rosoboronexport's subsequent financing did not help to fulfill the order.

Ametech seeks from the company 1.63 billion rubles ($55.97 million) in lost profit, as the order would have brought Ametech $50 million.

It also demands 120 million rubles ($4.12 million) in penalties for "unproductive financing," which resulted in the order fulfillment time being increased by six years.

Vishnevsky added that Ametech did not pay wages for two years, which is an insult for which Ametech seeks partial compensation amounting to 16 million rubles ($549,450). He also noted that its activities have not been financed since May 2009.

The defendant refuses to meet the claims, stating that the plaintiff fails to understand the essence of their contractual relations. Ametech seeks funds from Rosoboronexport, although it only acted as an intermediary between the customer and the contractor, which terminated the contract

Additionally, the plaintiff did not provide evidence confirming that the claims were settled and the statute of limitations has expired. According to the defendant, the statute of limitations expired in 2007, as the Ametech CEO said the company's rights had been violated as of 2004. The plaintiff said the violations began two years ago.
Ametech is a research and engineering complex and a laser-guided artillery arms manufacturer.

Rosoboronexport is a global arms market leader. It is the only Russian government defense and dual purpose product, techniques and services exporter and importer, occupying 80 percent of the country's military equipment exports.

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$87mln action against Defense Export Corporation to be heard on March 5

15:03 27/02/2012 The Moscow Commercial Court has adjourned until March 5 the consideration of the Ametech, artillery weapon producers lawsuit against Defense Export Corporation (Rosoboronexport) to recover $87.84 million.
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