IRKUTSK, December 13 - RAPSI. A court awarded a coal producer $207,000 on Tuesday in its claim against the Baikalsk Pulp and Paper Mill, the mill's representative told RIA Novosti on Tuesday.
The Irkutsk Regional Commercial Court partially satisfied VostSibUgol's lawsuit as the claimant initially sought to recover 32.3 million rubles ($1 million) in penalties under a coal supply contract.
The Baikalsk mill said the supply contract was signed in September 2009. "VostSibUgol supplied coal to a total of 44.5 million rubles ($1.4 million). However, Kontinental management company, a part of Oleg Deripaska's Basic Element, has never paid for the supplies," the mill's press office said.
The mill paid off the 44.5 million ruble ($1.4 million) debt to VostSibUgol in May 2011. However, VostSibUgol filed a lawsuit to recover 32.3 million rubles ($1 million) in penalties from the mill.
The Irkutsk Regional Commercial Court put the mill into administration on December 22, 2010 until June 22, 2012. The mill's debt was 1.7 billion rubles ($55.1 million) by the end of 2010, while its market value was 1.6 billion rubles ($51.9 million). Its main creditor is Alfa-Bank, the largest private bank in Russia, which currently controls the mill.