Court hears Serov Metallurgical Plant vs. Severskiy Pipe Works

Sverdlovsk Region Arbitration Court keeps looking into the claim laid by A.K. Serov Metallurgical Plant against Severskiy Pipe Works regarding the recovery of 266,871,317.54 RUR. The preliminary court session took place on December 26, 2008.

The plaintiff placed the claim with the regional Arbitration Court in order to make the defendant pay the above-mentioned sum. The figures are made up of 263,785,358.48 RUR worth of the price the defendant allegedly failed to pay for the goods delivered in accordance with the agreement 734/2331 as of November 19, 2007 and 3,085,959.06 RUR worth of interest for using somebody else’s money between September 11, 2008 and December 1, 2008 (this was charged in compliance with Article 395 of the Russian Federation Civil Code).

The defendant failed to respond to this claim in writing but reported in the course of a conversation that the portion of the debt (172,992,518.48 RUR) had already been paid and that the company was hoping for conciliation.

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