Lisin may call for GAZ's bankruptcy

Novolipetsk Steel (NLMK) is ready to take action against GAZ group if the company does not pay off its debts. NLMK could even insist on the company's bankruptcy, chairman of the Russian steel producer's board of directors Vladimir Lisin told journalists. He pointed out that GAZ was neither receiving rolled steel from NLMK, nor paying off debts. Lisin indicated that NLMK's total receivables stood at RUB 1.5bln (approx. $ 43mln), with GAZ group's debts amounting to RUB 1bln (approx. $ 28mln).