02.01.2023, 20:40
Billion-dollar assets of German Linde arrested in Russia
Source: OREANDA-NEWS
OREANDA-NEWS In Russia, the assets of the German company Linde were seized in the amount of 35 billion rubles.
The corresponding card was found in the database of the Arbitration Court of St. Petersburg and the Leningrad region. It is clarified that the Russian assets of the German Linde GmbH from Germany and its parent company Linde PLC have been seized.
The seizure of assets occurred after the appeal to the court of the company "Ruskhimalyans", which is a joint venture of Gazprom and RusGazDobycha. The company stated that Linde had not fulfilled its obligations to build a gas processing plant.
According to RBC, the estimated value of the seized assets — about 35 billion rubles — is two times less than the losses claimed by Linde. The price of Ruskhimalliance's claim amounted to over 946 million euros of unprocessed advance and 25.8 million euros of losses.
Also, under the terms of the agreement, Ruskhimalliance will apply to the Hong Kong International Arbitration Center with a claim against Linde. The place of hearing of the dispute is determined by Swedish Stockholm.
In June 2022, Linde informed Gazprom about the refusal to work on the design and construction of the Baltic LNG natural gas processing and liquefaction plant in Ust-Luga. At the end of March, the German company announced the suspension of the development of new projects in Russia.
The corresponding card was found in the database of the Arbitration Court of St. Petersburg and the Leningrad region. It is clarified that the Russian assets of the German Linde GmbH from Germany and its parent company Linde PLC have been seized.
The seizure of assets occurred after the appeal to the court of the company "Ruskhimalyans", which is a joint venture of Gazprom and RusGazDobycha. The company stated that Linde had not fulfilled its obligations to build a gas processing plant.
According to RBC, the estimated value of the seized assets — about 35 billion rubles — is two times less than the losses claimed by Linde. The price of Ruskhimalliance's claim amounted to over 946 million euros of unprocessed advance and 25.8 million euros of losses.
Also, under the terms of the agreement, Ruskhimalliance will apply to the Hong Kong International Arbitration Center with a claim against Linde. The place of hearing of the dispute is determined by Swedish Stockholm.
In June 2022, Linde informed Gazprom about the refusal to work on the design and construction of the Baltic LNG natural gas processing and liquefaction plant in Ust-Luga. At the end of March, the German company announced the suspension of the development of new projects in Russia.
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