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Fertilizers did not go for the future "Sistema"

Fertilizers did not go for the future "Sistema"

The subsidiary bank of AFK “Sistema” is suing the Luxembourgian Loyal Capital Group of the Georgian businessman Roman Pipia for $ 93.6 million of the loan. Its structures demand $ 388 million in damages from “Sistema” for actions allegedly because of which they lost control over the “Rustavi nitrogen”. The Luxembourg District Court upheld the “Sistema” by rejecting the lawsuit of Loyal Capital.

The partner of the «YUST» Law Firm, Alexander Bolomatov, doubts that the Loyal arguments have a great chance of success in the appeal: "It is unclear how the bank could prevent negotiations on on-lending of the debtor, and why?"

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