Court Obliged Brestenergo to Return $18.5 Million to Alfa Bank

The Russian side claimed nearly $21.4 million from Brestenergo. However, as the Belarusian Company has paid part of the arrears, the court reduced the size of payments, reports RAPSI agency.

Meanwhile, another hearing on the claim of Alfa-bank to Brestenergo was scheduled for February 2, 2012. The Russian bank demands to recover about $5.9 million of debts under the loan agreement with the Belarusian side.

As the plaintiff’s representative described in the preliminary meeting, Alfa-Bank loaned the Belarusian enterprise for $10.8 million until December 31, 2014. In summer 2011, Brestenergo delayed the regular payment on the loan, forcing the Russian bank to demand the debt early repayment through the court.

As Telegraf previously reported, in May 2010, Alfa-Bank opened a credit line of $32 million for Brestenergo. The Belarusian enterprise got the allocated funds almost in full, but in September 2011, fell into arrears for two payments on loans - $210 thousand and $220 thousand.

Because of the improper payment of interest on the loan and failure to settle the principal debt, the Russian bank sought in court an early return of the allocated funds provided under the contract until December 20, 2013.

The representative of the Belarusian Company stated in court that Brestenergo had been unable to repay the debt because of the complicated situation on the domestic market in the spring and summer 2011. Currently, the company is settling the loan in accordance with the schedule.