Almost 143 Mln Tenge Surcharged From Arcelormittal Temirtau Under Purchase And Sale Contract

Almost 143 Mln Tenge Surcharged From Arcelormittal Temirtau Under Purchase And Sale Contract

Almost 143 mlnt enge have been surcharged from ArcelorMittal Temirtau in Karaganda.

“The lawsuit filed by GreenWalls B.V. to JSC ArcelorMittal Temirtau (AMT) to recover the amount of sum on the contract and forfeit has been satisfied in full. The court ordered to recover 134 958 209 tenge of debt, 3 009 753 tenge of penalty from ArcelorMittal Temirtau JSC in favor of private company GreenWalls B.V. as well as court expenses in the amount of 4 139 039 tenge of state duty, 250 thousand tenge of expenses for a legal representative “, announced the judge of the specialized inter-district economic court of the Karaganda region.

According to the files, GreenWalls B.V. and AMT concluded a contract for the sale of a 75% stake in the authorized capital of Temirtau Associates and Ancillaries LLP. According to the terms of the contract, the sold share was evaluated by the parties to 134 958 209 tenge. This amount was to be paid by ArcelorMittal Temirtau JSC within 10 banking days, however, it wasn’t.

In the court, JSC “AMT” stated about the spurious signature and the firm seal in the contract. However, these arguments were refuted by a forensic examination, which concluded that the signature on behalf of the representative of ArcelorMittal Temirtau as well as the stamp were authentic.

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