Market Analysis

Metinvest Holding Rinat Akhmetov sued by companies controlled by Serhiy Taruta, 132,6 mln. The reason for the trials - non Taruta contracts for the supply of iron ore

recall, last year Metinvest filed three suits against businesses Taruta in the Economic Court of Donetsk region. Main, from a material point of view, the defendant in court proceedings was made Alchevsk Metallurgical Combine, which is part of the corporation Taruta - Industrial Union of Donbass (ISD). He owed one of GOKs Metinvest - Inhulets (InGOK) - 92,2 mln. Metallurgical not paid the InGOK for delivery in September-October 2008 iron ore.

respondent in the second lawsuit launched another venture corporation ISD - Dnieper Metallurgical Combine them. Dzerzhinsky (DMKD). Dniprovskyi Steel also owes Metinvest for the supply of iron ore Northern Mining (SevGOK) in September-October 2008. Total debt DMKD, which was recognized Hozsudom Donetsk region - 28,1 mln.

third company, against which Metinvest Holding filed a lawsuit - Kramatorsky Metallurgical Plant. Kuibyshev. Officially, he is not part of the business ISD. However, its main shareholders are the company Vizavi and Azovinteks. The first company listed in the founders ISD. Founder of the same "Vizavi" - Helen Hayduk, wife Vitaliy Haiduk. Until recently, he was one of the majority shareholders ISD. The second shareholder Kramatorsk company - Azovinteks, construction company, which belongs Taruta.

amount of claims to Kramatorsk Steel Plant - 12,3 mln. The money the enterprise shall pay the company for the supply of Akf5chmetov iron ore in September-November 2008 with SevGOKa.

According to the company-defendants for the violation of contracts for the purchase of iron ore from GOKs Metinvest Holding is an accident at work. The records of court cases, all three of the treaty admit that in the event of emergencies customer may refuse to purchase raw materials. A production of the accident itself are classified, according to a bilateral agreement, as force majeure. But the text of court decisions, which has a publication, indicates that none of the defendants did not provide the court with documents proving the facts of accidents at steel plant.

In fact, fulfill the conditions of contracts Taruta prevented the problems with working capital, which arose because of the large debt burden on the corporation. We recall today the total amount of debt ISD is about $ 3 billion bulk of this money - credit commitments.

Note that in Metinvest and ISD did not comment on the conflict. But suppose that for Taruta solutions Hozsuda Donetsk region - only the beginning of trials with Akhmetov"s holding company.

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