Brunswick Rail Limited issues statement in connection with recent filing in Moscow Arbitration (Commercial) Court
28 July 2017, Moscow – On 10 October 2016, LLC Investment Industrial Group EvRoKit (“Evrokit”) filed a claim with Moscow Arbitration (Commercial) Court (“the Court”) against LLC Brunswick Rail (“the Company”) in connection with services rendered to the Company in 2015 - 2016. As part of the same court proceeding, the Company filed a counterclaim against Evrokit, but the Court declined to incorporate the counterclaim into the same court trial. On 14 July 2017, the court ordered the Company to settle its obligations. Although Evrokit requested that the Court consider initiating insolvency proceedings in order to secure its claims, the Company as a precautionary measure paid the disputed amount on 26 July 2017 and is now in the process of making the necessary court filings in order to close the insolvency proceedings case.
About Brunswick Rail:
Brunswick Rail is a private railcar operating lessor providing freight railcars to large corporate clients in Russia. Established in 2004, Brunswick Rail currently owns a fleet of ca. 25.7 thousand railcars (as of 31 December 2016), which represents approximately 2% of the total Russian railcar fleet.