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Tatev Khachatryan

Moscow's Arbitration Court Postpones Hearing into Nairit Plant CJSC

The case pitting Interstate Bank against Nairit Plant CJSC got underway today at Moscow’s Court of Arbitration.

Hetq has covered the story of how millions of dollars in loans from interstate to Nairit have literally disappeared, funneled off into a maze of offshore accounts and dummy corporations.

Maksim Kulikov, representing Interstate, showed up at the court with three colleagues carrying bundles of documents as evidence.

No one from Nairit ever appeared, although it did send its response to the suit filed by the bank.

Interstate representatives motioned the court for more time to review the response, arguing that they had only received it that day.

The court agreed and postponed the hearing until May 14.

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