RUSSIA: Court upholds Severstal claim against Kamaz
A Russian court has reportedly upheld a claim by steel firm Severstal for the recovery of debt from Kamaz.
Prime-Tass reports that the 14th Arbitration Court of Appeals has upheld a lawsuit filed by Severstal seeking the repayment of 61.281 million roubles worth of debt from Kamaz in respect of supplies of rolled metal products.
The Prime-Tass report added that in December Severstal filed a lawsuit with the Vologda Region Arbitration Court demanding that Kamaz repay its debt for rolled metal products supplied in September-October 2008. The court ruled in favour of Severstal in February.