MOSCOW, September 24 - RAPSI. The Moscow Commercial Court upheld on Monday Nordea Bank's claim against the SU-155 construction company for $24.8 million in debt under a loan agreement, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).

The initial claim amounted to 719.375 million rubles ($23 million), but was later increased to 773.8 million rubles ($24.8 million). SU-155 intends to challenge the award.

In August 2011, the bank filed two claims - one for $31 million and the other for $23 million, seeking early repayment under the loans issued in 2007 and 2008. The loans were taken to refinance the company's working capital, but the bank held that the company defaulted on its debt servicing in May 2011. SU-155 argued that it had overpaid the interest by $1.3 million.

The court ordered the defendant to repay $31.364 million in the first claim. The judgment has entered into force.

SU-155 has been operating on the Russian construction market for over 50 years. It comprises more than 150 independent organizations, including 28 industrial enterprises in 17 cities.

Nordea Bank is a top-30 Russian bank offering banking services to individuals and entities. The Scandinavian Nordea group owns a 100 percent stake in the bank.