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TMM, Credit Agricole continue litigation

TMM, Credit Agricole continue litigation

6 July 2010

TMM Real Estate (FSE: TR61 GR) and Credit Agricole Bank (Ukraine), a member of France’s Credit Agricole Group, will continue to sort out their dispute over loan arrears in courts, Interfax reported yesterday citing a Credit Agricole Bank press release. Credit Agricole opened a case against TMM in Ukraine’s Commercial Court in late March. The total amount of the loan was not disclosed. Andriy Gostik: We continue to see no significant impact on the stock price due to the loan dispute. 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.

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