DUSHANBE, October 7, 2011, Asia-Plus  -- In a ruling handed down at Tajikistan’s Higher Economic Court on October 5, Mr. Justice Jamoliddin Isroilov obligated Russia’s enterprise, CJSC Siberian Heavy Engineering Plant, to pay more than 20 million Russian rubles (RR) to open joint-stock company (OJSC) NBO Roghun.

According to him, OJC NBO Roghun concluded a contract with CJSC Sibtyazhmash in August 2010 on production of components for two traveling cranes and electric elevators.

Under this contract, OJSC NBO Roghun in October 2010 made a prepayment in the amount of 19.8 million Russian rubles and the Russian company was to complete order in nine months.  However, Sibtyazhmash has not fulfilled its commitments.

“In July this year, Tajik government delegation visited Krasnoyarsk to discuss the process of implementation of the contract and it turned out that Sibtyazhmash cannot deliver the product to Tajikistan at a stated time,” Isroilov stressed.

“The Higher Economic Court of Tajikistan sustained the claim of OJSC NBO Roghun and ruled that Sibtyazhmash must give back the prepayment (RR19.8 million) and pay penalty fees (RR119,300) and state duty (RR400,000),” the judge noted.

Meanwhile, Vesti.ru reported on May 6 this year that one of Krasnoyarsk’s oldest plants, Sibtyazhmash, has been declared bankrupt.  “Sibtyazhmash has entered a pre-bankruptcy process and its debts (some RR20 million) will be frozen,” Vesti.ru reported.

Isroilov noted that they had asked the Krasnoyarsk arbitration tribunal to put NBO Roghun on the list of Sibtyazhmash’s creditors.