Ural-Invest LLC and Sistema JSFC concluded a settlement agreement in court

UFA, 30 March 2015. /Bashinform News Agency, Juliya Antipina/. On Monday the Moscow Arbitration Court approved a settlement agreement between Sistema JSFC and Ural-Invest LLC concerning the assets of the Bashkir fuel and energy complex, «Interfax» informs.

Under the terms of the settlement agreement, Sistema JSFC will get 46.5 billion rubles from Ural-Invest instead of 70.7 billion rubles, thus 10 percent of this sum it will transfer to the to charity projects of "Ural" Foundation. Sistema will receive all available financial resources of Ural-Invest.

The lawyer of Sistema JSFC notes that the settlement agreement is at the stage of enforcement of the judgment, as the decision to recover funds has come into force and is no longer subject to cancellation.

The defendant has not enough property for enforcement of the judgment in its entirety. The settlement agreement is entered into, including, for the continuation of the charitable activities of the "Ural" Foundation.

The debtor will give to the claimant promissory notes, receivables under contracts of bank deposits, receivables under the trust agreement, 15 million rubles from the settlement account. Sistema will leave the debtor 18 million rubles in the current account, premises, vehicles, office equipment. The agreement also terminates all claimant’s rights to the debtor, the «Prime» agency informs.

The judicial decision on approval of the settlement agreement is effective immediately after the issuance of the full text and can be appealed to the appellate court within one month.