Agreement to settle a RUB 3 bln debt

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Total claims against the debtor (one of the major industrial enterprises in the Russian South) amounted to RUB 3 bln. Under a pre-action protocol, a settlement agreement containing various terms for all creditors and accommodating the interests of all parties involved, including local government authorities, was drawn up and signed.

As a result, it proved possible for the local economic mainstay to continue as a going concern.

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