26 July 2010
The Industrial Union of Donbas’ assets were frozen by court order over a UAH 1.7 bln debt dispute with Metinvest, Kommersant reported this morning. Metinvest alleges that IUD failed to make payments on contracts signed in 2008 under which Metinvest supplied 10 mln mt of pellets, 11 mln mt of iron ore and other materials to IUD. Ukraine’s Justice Ministry opened 15 cases against IUD on July 22. Neither Metinvest nor IUD have commented on the dispute.