Court Recovers 140 Mln Tenge In Favor Of The Dutch Green Walls

ArcelorMittal's coal miners stage sit-in at four mines in Kazakhstan

By the decision of specialized inter-district economic court of Karaganda region, the claim of the Dutch company Green Walls B.V. to JSC Mittal Steel Temirtau has been partially satisfied, approximately 140 million tenge have been surcharged from the company, the agency reports.

“The specialized inter-district economic court of Karaganda region dated February 7, 2017  satisfied the claim partially. More than 134.9 million tenge debt has been surcharged from AMT in favor of Green Walks, and the penalty in the amount of 29 000 tenge, the company has been obliged to pay off the state fee in the amount of 4,049,643 tenge. The satisfaction of the rest of the claim has been denied, ” said the court.

Green Walls BV had filed a lawsuit against the JSC Mittal Steel Temirtau to recover the debt in the amount of over 134,9 million tenge , the legal penalty in the amount of 3 million tenge, state tax in the amount of a 4 million tenge and payment for assistance in the amount of 250 000 tenge.

Green Walls (established in accordance with the laws of the Netherlands) and ArcelorMittal Temirtau had signed a contract on purchase and sale of 75% share in the fixed capital of LLP Temirtau Associates And Ancillaries (TAA), where the AMT bought 75% of the share capital of the TAA and acquired all the rights and obligations of the company.