MOSCOW, September 26 (RAPSI) – SUAL Partners Ltd., which is controlled by Russian businessman Viktor Vekselberg, abandoned an action against a number of Russian insurance companies over collapse of a bridge, RAPSI learned in the courtroom Thursday.
No details have yet been provided on the decision to drop the suit.
SUAL brought the claim in the Moscow Commercial Court in May 2012 seeking to compel the co-defendants to compensate the losses inflicted by an operator of the bridge over the Abakan river, by means of which raw materials are supplied to RUSAL's Sayanogorsk Aluminum Plant. The bridge collapsed in May 2011, and SUAL, which holds a 15.8% stake in RUSAL, claimed losses.
The company claimed 1.773 billion rubles (over $50 million) from the Ingosstrakh and Alliance insurance companies.
Sayanogorsk Aluminum Plant, along with RUSAL pls, OAO Russian Aluminium, and RUSAL Global Management B.V. were involved in the case as third parties.
The Sibmost bridge construction company reported in April 2012, that it had reconstructed the bridge.