Anastasiya Samusenko has provided her comments to RBC on the terms of a settlement agreement between two large St Petersburg businesses

Pella Shipyard and Zvezda Diesel Plant have signed a settlement agreement in respect of a dispute over the timing of the delivery of engines.

The agreement contains a number of clauses, the main one being the right of Pella to charge a penalty in the amount of 840 million roubles for the breaching of the new delivery term by Zvezda. Maxima Legal’s associate, Anastasia Samusenko, explained to RBC that “to enforce this, Pella will only have to apply to the court and receive an enforcement order (without going through all the other stages of the dispute) and then send this order to Zvezda’s bank or apply to the bailiffs for enforcement”.  Pella will also have the right to demand that Zvezda deliver the engines and can continue to charge penalties until the engines are delivered.

You can read the material (in Russian) on the RBC website >>>