Astana Contract Filed Lawsuit against Development Bank of Kazakhstan
OREANDA-NEWS. June 25, 2012. Kazakhstan Kagazy PLC announces that the Group's subsidiary Astana Contract JSC has filed a lawsuit against the Development Bank of Kazakhstan ("DBK").
Continued refusal by DBK to agree to realistic terms on the outstanding debt of Astana Contract have forced the Group to file a lawsuit against DBK. The Group remains open to settling this matter outside of court.
Astana Contract JSC operates as a logistics and warehouse operator. It owns and operates warehouses and container terminals. As of April 14, 2008, Astana Contract JSC operates as a subsidiary of Kazakhstan Kagazy Plc.
Kazakhstan Kagazy Group produces paper and provides packaging solutions. It is a modern production company with vertically integrated production cycle that starts from the collection and processing of waste paper and production and distribution of paper, cardboard and containers.