Russian firms clash in court over $2M dispute tied to PNC Bank guarantee
A legal dispute has emerged between two Russian companies. Construction firm Spezstroyservis LLC has taken JSC Information Satellite Systems Reshetnev to court, seeking to nullify a payment demand of 177.4 million rubles. The Krasnoyarsk Territory Arbitration Court has accepted the case, with a preliminary hearing set for December 1. Spezstroyservis LLC, represented by an undisclosed managing director or legal representative, has filed a lawsuit against ISS Reshetnev. The construction company has requested a deferral of state duty payment and aims to invalidate ISS's demand for a substantial sum under a bank guarantee issued by PNC Bank. The court has accepted the case, marking the beginning of what could be a complex legal process. The outcome of this lawsuit remains uncertain. The preliminary hearing on December 1 will provide more clarity on the issues at hand and the potential resolution of this dispute between the two companies.
