BMK was unable to challenge the decision to collect the debt in favor of the Swedish company
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Arbitration Court of Bashkiria refused in satisfying the application of Beloretsk Metallurgical Plant JSC (BMK, part of the Mechel group) and the prosecutor’s office of the republic to review the decision to forcefully collect from BMK in favor of the Swedish counterparty Hyperion Materials & Technologies (HMT) a debt in the amount of €383.3 thousand. and €361.3 thousand in interest and costs. At the same time, the court granted the application to suspend the execution of the judicial act until it entered into force.
The International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation found that HMT supplied BMK with products worth a total of €408.6. Subsequently, the customer partially paid the debt; as of the date of the decision in July 2022, the amount of the debt was €383.3 thousand. Since BMK did not comply with the arbitration court decision, HMT filed an application with the arbitration court of Bashkortostan to issue a writ of execution for forced execution, which was partially satisfied in January of this year.
However, the debtor did not agree with the determination and filed a claim to review the decision due to newly discovered circumstances. As reported in the statement, BMK became aware that the Swedish company and the companies included in its group are manufacturers and suppliers of components and parts for US combat aircraft, cruise missiles, nuclear weapons, and Abrams tanks. Execution of a decision in favor of HMT constitutes crimes under the articles “High treason”, “Promotion of terrorist activities”, “Organization of an illegal armed group or participation in it, as well as participation in an armed conflict or military actions for purposes contrary to the interests of the Russian Federation”, indicated in BMK lawsuit.
The court did not agree with these arguments because they were not supported by documents. “Applicants do not present relevant and admissible evidence that any goods manufactured specifically by the applicant company in the case are used in any military products,” the determination notes.
JSC Beloretsk Metallurgical Plant was registered in 1994 in Beloretsk. Produces wire using the cold drawing method. Financial statements for 2022 have not been published. In 2021, revenue amounted to 35.4 billion rubles, net profit – 3.2 billion rubles.
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