NPO Avtomatiki vs UOMZ ends in out-of-court settlement

12 April 2012 (09:36)

The clash between NPO Avtomatiki, a scientific & production association, and Ural Mechano-Optical Plant (UOMZ) ended in an out-of-court settlement in Sverdlovsk Region Arbitration Court.

Now NPO Avtomatiki went to court with a claim demanding that the defendant pay them 4.58m RUR (the principal and the interest charged for using another party’s funds). In the course of a court hearing, the parties announced they had reached a voluntary settlement and asked the court to confirm it.

As a result, UOMZ admitted owing 4.49m RUR to NPO Avtomatiki. The two parties agreed that the defendant would pay the plaintiff 4.49m RUR worth of the principal and 75,000 RUR worth of interest by May 15, 2012.

It was thus decided to close the case.

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