The Supreme Commercial Court reports on its website that the Lenenergo grid company has appealed in a federal commercial court the judgment to collect USD 545,000 for the Severstal steel and mining company.

The company has challenged the Thirteenth Commercial Appeals Court's December 2011 judgment to revise the previous decision passed by the St Petersburg and Leningrad Regional Commercial Court. The court earlier fully satisfied Severstal's lawsuit to recover from Lenenergo RUB 25.36 million for failing to connect the company to its grid in a timely manner between December 17th 2009 and February 16th 2010.

The higher court cut the penalty, which cannot exceed 30% of the connection contract amount of RUB 226.44 million by law. The maximum penalty is RUB 67.93 million.

(Sourced from www.rapsinews.com)