Financial Recovery Of Nikopol Pivdennotrubny Extended

The Dnipropetrovsk Regional Economic Court issued a ruling that will prolong the plant’s recovery until January 12, 2007. The state owns 96.67% of the plant’s shares and plans to put it up for sale by September 30, 2005. Concorde Capital: The plant’s assets were stripped as a result of restructuring by a number of entities, the largest of them being Interpipe. Interpipe is believed to control the plant’s financial recovery process through a loyal recovery manager. We expect the state to attempt to cancel the restructuring of Nikopol Pivdennotrubny and try to gain its assets back. However, the chances of the state to succeeding appear small.