The first lawsuits against Interpipe NMTZ, Niko Tube and NTZ Alfa-Bank filed in August and September 2015. The bank wanted $5.7 million according to loan agreements of 2013 and $9 million and 41 million euro according to loan agreements of 2012. Interpipe had to return the debt by March 2015. But didn’t manage to.
“Last year we tried to survive”, said the company CEO Oleg Rosenberg. In 2015 Interpipe output volumes dropped by 29% YoY, to 600 thousand tons, pipe sales reached 507 thousand tons, and wheel sales – 93 thousand tons.
Interpipe set up counter claims, but failed.
Main hearings started in April 2016, and in June all the bank claims were satisfied. The court ordered Interpipe to clear the debts of 1.33 billion UAH. (Ukrainian metal)