Uralvagonzavod turns down promissory note

Sverdlovsk Region Arbitration Court keeps looking into the claim laid by Legion Commercial Bank against Uralvagonzavod Federal State Unitary Enterprise. The plaintiff demands to be paid 10 million RUR.


The bank took the case to court in order to get the 10-million-ruble payment on the promissory note UVZ ¹ 0000254 as of August 23, 2006. The plaintiff provided the court with the original of the note in the course of the preliminary hearing.


Uralvagonzavod refuses to meet the creditor’s demands: the company claims in its response that the plaintiff is not, in fact, a legitimate promissory note holder and that the date the disputed note was signed, as well as the General Director Nikolai Malykh’s signature, can’t be authentic because the GD was actually away on business trips at that moment.


This isn’t the only case of this kind handled by the arbitration court at the moment. For instance, Uralvagonzavod also turns down the promissory notes produced by Russkiy Narodniy Bank and AKB Rosbank, and for the same reasons.


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