Court looks into Bank Severnaya Kazna vs. Mayak Corporation

Sverdlovsk Region Arbitration Court started investigating the claim laid by Bank Severnaya Kazna against Mayak Corporation regarding the 122,032,096.43-RUR debt; the plaintiff also insists on having the corporation’s mortgaged property arrested. The preliminary hearing has been scheduled for June 3, 2009.

Mayak Corporation’s President Marina Konkova said earlier that they had been trying to negotiate for debt refinancing. In fact, the bank has already placed several claims with the court, with Mayak Corporation announcing they were about to leave the housing construction market.


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