Amtel-Vredestein, which manages the Russian assets of Netherlands-based tire producer Amtel NV, previously known as Amtel-Vredestein NV, has filed a lawsuit with the Moscow Arbitration Court seeking to contest a US$65m claim filed by Bank Petrocommerce, an Amtel spokesman told Prime-Tass.
Amtel opposes including the bank’s claim in the list of creditor claims and its suit will be considered by the court as part of Amtel’s bankruptcy case.
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According to the report, Bank Petrocommerce in 2006 signed a deal to lend $65m to Amtel-Vredestein NV but the debt was transferred to Russia’s Amtel-Vredestein in 2007. Amtel-Vredestein had not received any material compensation but was requested to repay the debt the next day after the agreement to transfer the debt to the company was signed. The transfer of the debt to the Russian company also was not approved by its shareholders.
