Sverdlovsk Region Arbitration Court halted the proceedings related to the claim laid by MDM Bank against the assets of former Avtoland Holding.

The bank took the case to court in order to make Uralchermetavto and Avtoland Sever (the loan guarantors) 206.47m RUR. This sum comprises the loan repayment, the interest, and the fines.

In the course of the last sessions, the court considered Uralchermetavto’s petition that asked for the proceedings to be halted until another arbitration case ruling comes into effect. The court decided to sustain this petition, since the said case has to do with the validity of the loan agreements, with the amount of debt, and with the debtors’ liability as well as with the validity of the agreements related to the transfer of debt. At the moment, the 17th Arbitration & Appeals Court is going to look into the case in accordance with the regulations for treating cases in courts of first instance.