Amtel-Vredestein ordered to pay 42.3M euro debt
The Russian Legal Information Agency reports a Russian court has ordered Amtel-Vredestein N.V. to pay TIRE Invest the 42.3 million euros sought in relation to an unpaid loan. In 2007 the former owner of the Vredestein brand entered into a loan agreement with Nomos-Bank, and this was set to mature in 2009. When Amtel-Vredestein failed to repay the loan in due time, the bank filed a lawsuit against the borrower and its guarantors.
Nomos Bank, the original plaintiff in the case, later assigned its claims to TIRE Invest.
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