Looking for a specific product?

Make a search for products & suppliers, articles & news.

RURIC AB: Resolutions from Bondholders’ Meeting 6 May 2013

CorpNordic Sweden AB is the Agent for the maximum SEK 682,766,800 SEK, 10 %/13 %, 2010/2014 bonds (ISIN SE0003045848) issued by Russian Real Estate Investment Company AB (publ) (“Ruric”).

On 6 May 2013 a meeting of the holders of the bonds was held in Stockholm. The Agent had convened the meeting to inform the bondholders about breaches of the Terms and Conditions of the bond loan and to enable them to take appropriate actions.

At the bondholders’ meeting Ruric presented to options for restructuring that are being discussed with the bondholders’ committee. The options are described in a press release issued by Ruric on 6 May 2013 before the meeting. The press release can be downloaded from the news section of Ruric’s web page www.ruric.com.

The following resolutions detailed in the notice for the bondholders meeting were duly passed by the meeting:

  1. The bondholders’ meeting resolves that the breaches (as further set out in the Notice) may be materially detrimental to the interest of the Bondholders.

  2. The bondholders' meeting decides to commission the bondholders committee to continue negotiations with Ruric and, if it in the opinion of the bondholders committee is not possible to reach a reasonable negotiated solution within a reasonable period of time and provided an Event of Default is continuing, ask the Agent to accelerate the Bonds and enforce the security. This instruction is valid until the next bondholders' meeting. It was noted that the bondholder committee clarified that a reasonable time mean that a term sheet will be completed within two weeks and a proposal for a comprehensive agreement should be finalized within a month. Once the proposal is complete, the Bondholders will have the opportunity to consider the final proposal on a bondholders’ meeting.

In accordance with the Terms and Conditions of the Bonds, the above resolutions are binding on all Bondholders irrespective of them being present or represented at the meeting and irrespective of how and if they have voted.
The minutes of the above mentioned bondholders’ meeting will be available to Bondholders from Ruric and the Agent.

Associated companies:


Related news

Latest news

Over 45,000 businesses risk EU energy fines for non-compliance

The previous compliance date of 5th December 2015,

“An Incredibly reliable net cleaning system”

Our predator nets are prone to fouling with scallops and mussels,

“An Incredibly reliable net cleaning system”

Good knowledge enables the customer to get the most out of the product. 

DNV GL initiates energy storage standard for Australia

DNV GL will lead the project and prepare a draft proposal for the standard,

Kvale acts for foreign ship owners in a direct action case

The case is against a Norwegian P&I underwriter and the alleged tortfeasor following a collision in the Singapore strait. Recently, the Supreme Court rendered a verdict on the issue of whether Norwegian courts hav...

Kvale recognized by IAM Patent 1000 2018

Kvale's IP-team receives great review from IAM Patent 1000 "The world's leading patent professionals 2018". 

Positive winds at the SeaWork International trade fair

- This is the place to be,

DNV GL and Brodosplit sign class contract for Quark polar expedition vessel

Quark has a long history of civilian polar exploration.

Elkem sustainability magazine 2017 and GRI report for 2017 is ready

Corporate social responsibility is one of the building...