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RBC, 29 Oct 1999, Moscow 13:48:04

Bonivento Ltd. Company Appeals To Court To Request Security For Its Claim Against Finance Ministry


Bonivento Ltd. Company appealed to the Arbitration Court of Moscow to request security for its claim, a representative of the Rusatommet Lawyer Company, which represents the plaintiff, told RBC today. It is demanded in the request to "forbid the Finance Ministry of Russia to transfer funds of the Federal Budget to special accounts of some of the GKO t-bills holders as specified in the regulations on conditions of restructuring and revival of GKO t-bills". The Bonivento Ltd. brought a suit against the Russian Federation to claim a GKO t-bills debt. Yet, the hearing of the case has been postponed again. As RBC has already reported, the next hearing is scheduled for December 15 of this year. At the same time, according to Rusatommet, the Finance Ministry of Russia is implementing a program of restructuring of the GKO liabilities of Russia. This program seriously violates the rights "of those GKO holders, which demand proper fulfillment of obligations and appeal to court to protect their rights," and "deprives them of the possibility to receive funds to redeem GKO on the grounds of the court's verdict".