MOSCOW, November 9 - RAPSI, Natalia Belova. A court will hear on December 14 a $9.8 million lawsuit filed by the State Property Management Agency against Seltekhstroy for frustrating an auction for the sale of a major seaport in Russia's Far East, the Russian Legal Information Agency (RAPSI) reported from the courtroom.

The Vanino seaport is the largest stevedoring company, located in the Khabarovsk Territory. It provides loading/discharge services and performs freight forwarding operations. The government presently holds a 55-percent stake in Vanino. Rusal, a leading aluminum producer, has a 20-percent stake in the seaport.

An auction for the sale of a 73-percent stake in the Vanino seaport was held on May 19. A total of 14 companies bade for the seaport including Oleg Deripaska's En+ Group and Vladimir Lisin's UCLH. However, a little-known Seltekhstroy eventually won the bid offering to pay some 10.8 billion rubles ($354 million) for a controlling stake in the seaport. The bid started at 934 million rubles ($30.6 million).

The auction winner made a 93.4 million ruble ($3.07 million) down payment, but later failed to pay the whole sum by June 24, the payment deadline. The auction was consequently cancelled and Seltekhstroy was deprived of its prepayment. However, the State Property Management Agency later decided to sue the failed auction winner seeking to recover via court 300.46 million rubles ($9.8 million) from Seltekhstroy for breaking up the auction.