MOSCOW, February 10 - RAPSI, Natalya Belova. A commercial court postponed until February 17 the hearing of the Bank of Russia's lawsuit against the levy of execution on the Iceberg Central Design Bureau's shares pledged under loans issued to Mezhprombank.

The Bank of Russia took an unprecedented decision and decided to restructure Mezhprombank's debts in summer 2010, having extended the payment period, and turned the unsecured debt into secured debt.

The shipbuilding assets belonging to the United Industrial Corporation, controlled by former Senator Sergei Pugachev, allowed for the move. The plaintiff sought to levy execution on the 64.82 percent of Iceberg's shares owned by the defendants and asked the court to appraise their market value.

The Moscow Commercial Court declared Mezhprombank bankrupt on November 30, 2010, and appointed the Deposit Insurance Agency to act as the bankruptcy administrator.

Last November, the court ordered an appraisal of the market price of Iceberg's shares under the Bank of Russia's application and ordered Ernst & Young to conduct the assessment.

The expert organization has now provided the report, and the court adjourned the case on Friday, so the parties can familiarize themselves with the text.

The court will consider the application next Friday.