Russia's VTB Looks to Court to Solve Mechel's Debt Problems

Russia's VTB bank sees applying to court as the only way to solve steelmaker Mechel's debt problems, state-run RIA Novosti quoted Andrei Kostin, the bank's chief executive, as saying Friday.

Kostin said the bank — one of the main creditors of indebted Mechel — still wanted the firm's debt to be converted into equity but that the company did not support this plan as of now, the Interfax news agency reported.