OREANDA-NEWS. March 29, 2010. Credit Agricole Bank (Ukraine), a member of France’s Credit Agricole Group, said in a press release on Friday that it is taking developer TMM Real Estate (FSE: TR61 GR) to the Commercial Court of Ukraine over loan arrears, local media reported on Friday. TMM, in turn, said it requested additional time to repay the loan. TMM asked at a hearing on March 17 for more time to prepare its case; the next hearing is scheduled for today, March 29. The total amount of the loan was not disclosed. TMM reportedly took the loan to purchase equipment for a large-scale project and made an advance payment to the equipment supplier. Due to the financial crisis the project was delayed, and the supplier of the equipment failed to repay the advance in full. Andriy Gostik: The news should have no significant impact on the stock price. We estimate that the remaining amount of loan unpaid to date is less than USD 1 mln, and is immaterial for the company given the scale of its operations. The delay with the repayment has to do with TMM’s intention to finish negotiations with the equipment supplier on paying back the advance.