Russian Shipper Hits Back At German Bank's €9.7M Loan Suit

Law360, London (September 6, 2019, 5:01 PM BST) -- A Russian shipping company has rejected a claim by a German state-owned bank for approximately €9.8 million ($10.8 million) over a defaulted loan, saying in defense documents filed with the High Court in London that it does not owe the lender any obligations.

Azov-Don Shipping Company JSC, one of the the largest shipowner in Russia, denied being the guarantor of a loan taken out by the Volgo-Don Shipping Co., which it merged with in 2011, denied that it had signed the agreement or the loan facility in its own name.

“It is not admitted that any authorized signatory of the defendant...

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