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Harneys advises VTB Capital Plc on Cyprus law

13 December 2013


Harneys recently advised VTB Capital Plc on Cyprus law matters in relation to a secured loan of up to US$4.5 billion given to URALHEM OJSC and the plant in Kirovo-Chepetsk. The loan was guaranteed by Voskresensk Mineral Fertilisers, OJSC in Voskresensk, URALCHEM Trading House Ltd, OJSC Minudobrenia in Perm, URALCHEM HOLDING P.L.C. (a company incorporated in Cyprus and the holding company for URALCHEM Group) and SIA URALCHEM Trading.
 
URALCHEM Holding P.L.C., is the holding company of URALCHEM Group, one of the largest producers of nitrogen and phosphate fertilisers in Russia and the CIS. URALCHEM Group is the second largest ammonia and ammonium nitrate producer in the world and number one in Russia, and the second largest nitrogen fertiliser producer in Russia.
 
The Harneys team consisted of Partner Nancy Erotocritou, Associates Styliani Constantinou and Marios Koutsios, and Trainee Lawyer Stephanie Havatzias.