AFK «System» has reported about technical default in the amount of 8.9 billion rubles

© RIA Novosti / Ramil to Setdiscoverable in fotobounce company AFK Sistema. Archival photoAFK «System» has reported about technical default in the amount of 8.9 billion rubles© RIA Novosti / Ramil to Setdiscoverable the image Bank

AFK «Sistema» announced the occurrence of a technical default on credit obligations in an amount equivalent to 8.9 billion rubles, due to the seizure of assets in a dispute with «Rosneft» «Bashneft»; this default is a mere formality — the Corporation will maintain its credit obligations in full, the statement reads AFK.

«AFK «System» reports about the occurrence of 28 August 2017 technical default on credit obligations of the Corporation in an amount equivalent to 8.9 billion rubles,» — said the Corporation.

The occurrence of a technical default due to the ongoing arrest by the Arbitration court of Bashkiria owned by AFC and JSC «Sistema-invest» 31,76% of MTS shares, 100% shares of the group and 90,47% stake in BESK. Earlier, in July, the company has already reported the occurrence of a technical default on credit obligations in the amount of 3.9 billion rubles.

Last week the Arbitration court of Bashkiria has partially satisfied the claim of «Rosneft» to AFK «Sistema», recovered 136,3 billion rubles in favor of «Bashneft». The decision will come into force in a month, if the defendants do not appeal against it. «System» is, however, already declared intention to appeal the decision. Kopytov said RIA Novosti that the AFC hopes to prove his innocence in the courts.

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