--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20230118-niik-lost-the-lawsuit-on-bank-guarantees/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # NIIK lost the lawsuit on bank guarantees Publication Date: 18.01.2023, 18:00 Money will have to be paid. The bankrupt Research Institute of Urea and Organic Synthesis Products (hereinafter NIIK, Nizhny Novgorod region) lost a case with Sberbank on bank guarantees. NIIK asked to oblige Sberbank not to pay the guarantee of 745 million rubles (almost $12 million) to Metafrax Chemicals, for which NIIK didn’t manage to complete the Ammonia-Carbamide-Melamine complex worth 16.2 billion rubles (over $257 million). The court decided that the former contractor, challenging the relationship between the customer and the guarantor bank, chose an improper way to protect its rights. It turned out that in October Sberbank had already transferred to Metafrax Chemicals the amount of security for broken obligations. Thus, having paid 745 million rubles (almost $12 million) for problems with the launch of the new complex, Sberbank acquired the right to demand this compensation from NIIK, as the culprit of the unfinished project. Source: [Kommersant](https://www.kommersant.ru/doc/5757302?utm_source=yxnews&utm_medium=desktop&utm_referrer=https%3A%2F%2Fdzen.ru%2Fnews%2Fsearch%3Ftext%3D) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.