Mechel PAO reports a court decision that may have an impact on the value of Mechel PAO’s shares.
According to court information, the Fifteenth Arbitration Court of Appeals left unchanged the decision to charge Mechel PAO jointly with other respondent parties a sum of 12.7 billion rubles to recover Rostov Electrometallurgical Plant’s damages.
The lawsuit was based on the claim that Mechel jointly with other respondent parties caused damages to the enterprise by their actions in 2009-2013. The company does not admit these allegations and insists that all deals made within the framework of its cooperation with Rostov Electrometallurgical Plant were transacted based on market economy conditions and so could not damage the enterprise’s operations.
Mechel PAO does not agree with the court’s decision and will appeal it in a court of cassation. (MetalInfo/Ukrainian metal)