Sergei Bakeshin has commented on the dispute about the payment of a penalty three times higher than the principal debt

Sergei Bakeshin - Counsel

On 16th of December the Commercial Court of Saint-Petersburg and Leningrad Region will start consideration of the claim of Unix Medical Company, bankrupt Ekaterinburg medical equipment supplier, against New Construction Technologies, St Petersburg construction company. The claims include 61.1 million roubles debt and 194.5 million roubles penalty.

Head of Dispute Resolution and Insolvency practice of Maxima Legal Sergei Bakeshin explained to the Delovoy Peterburg newspaper that such penalty can be charged for a very long period and there is a possibility that limitation period for the claim for the main debt recovery has already been missed. According to Sergei, the process can be delayed because the dispute went to the judge who is very meticulous and carefully examines cases, allowing the parties to set forth all their arguments in great detail.

To read the full article (in Russian) please see the website of the Delovoy Peterburg newapaper  >>>