MOSCOW, April 11 - RAPSI. The Ninth Commercial Court of Appeals will hear on May 16 Seltekhstroy's appeal against the collection of $2.5 million for the state property management agency. The company has been accused of disrupting an auction intended to privatize the controlling share in Vanino port.

A commercial court partially satisfied the regulator's claim in February. The agency initially sought 300.46 million rubles ($10 million).

The court has also dismissed the defendant's counterclaim to declare the share sale and purchase agreement null and void.

Vanino is the largest stevedoring company in the Khabarovsk Territory. It provides cargo handling and freight forwarding services. Among its major shareholders are the government with a 55-percent interest and Rusal aluminum giant with a 20-percent shareholding.

The auction of the 73-percent stake in the seaport was conducted on May 19. It was attended by 14 bidders, including Oleg Deripaska's En-Group and Vladimir Lisin's UCLH.

However, the little-known Seltekhstroy eventually won the auction, offering 10.8 billion rubles ($354 million), although the starting price was as small as 934 million rubles ($30.6 million).

The successful bidder made a 93.4 million ruble ($3.07 million) down payment, but later failed to pay the entire sum by the June 24 payment deadline. The auction was canceled and Seltekhstroy forfeited its deposit. However, the regulator later decided to sue the unlucky winner, seeking to recover 300.46 million rubles ($9.8 million) from Seltekhstroy for disrupting the auction.

Seltekhstroy stated in its claim that the agency failed to observe the shares transfer deadline and violated the purchaser's responsibility provisions.