YEKATERINBURG, August 25. /TASS/. VSMPO-AVISMA, the world’s largest titanium producer, denies information about its accounts being frozen by a court in Switzerland and all required transactions proceed normally, the company’s press service told TASS.
"Information concerning the freeze of accounts of the VSMPO-AVISMA Corporation in Switzerland is not true to facts. VSMPO-AVISMA makes all the required transactions at bank accounts in the usual course of business and honors its obligations towards counterparties and employees," the company said.
Counsel Alexander Zabeida said earlier that a Swiss court ruled to freeze accounts of the corporation. He also stressed that Interlink Metals & Chemicals AG, which initiated proceedings in Switzerland, insist that commercial matters, including profit appropriation, should be resolved exclusively by commercial courts.
Ex-CEO of the corporation Mikhail Voevodin was arrested in late June. CEO of Vtorpromresursy company Evgeny Lysenko was also subjected to custodial restraint. Both were charged under Part 4 of Article 159 of the Russian Criminal Code (large-scale fraud).