The Federal Court of Arbitration of Moscow Circuit reversed the ruling of the Moscow City Court of Arbitration and the ruling of the Ninth Arbitration Court of Appeals on collecting 92 million Rubles from OJSC «Sterlitamaksky Machine-Tool Plant», and sent

In regard to the claim filed by CJSC «Torgovo-Finansovaya Kompaniya "M.T.E.-finance", the Moscow City Court of Arbitration ruled to collect from OJSC «Sterlitamaksky Machine-Tool Plant» the debt and penalty for the total amount of 92 million Rubles in connection with the Plant’s default, alleged by the claimant, on its obligations under an equipment delivery contract. The Ninth Arbitration Court of Appeals upheld the ruling of the court of first instance.

Having considered the dispute, the court of cassation ruled to revoke the judicial acts with regard to the case, and to send the case to the court of first instance for reconsideration. The judicial acts of both the court of first instance and of the court of appeals were revoked for the following reasons: the court of cassation recognized the failure to prove the Plant’s debt owed to the claimant, and established a number of procedural infractions made during the adjudication of the case by the courts of lower instances, which entailed the passing of judgements being wrong on the merits.

Advocates of the Law Firm “YUST” represented OJSC «Sterlitamaksky Machine-Tool Plant» in the process of litigating the rendered judgements in the court of cassation.