RE: Independent? Not my viewAlexey Khudyakov may not be independent as first glance would sugguest. He is a former VP of Alfa Group, the bankers who hold Severstal's 2013-14 eurobonds .
"...The extent of the pressure heis under was disclosed in Moscow on May 18 by a report to clients from AlfaBank. This reveals that Severstal's loan agreements for eurobonds, due forrepayment in 2013 and 2014, carry covenants, or contractual restrictions, whichseriously impact on Severstal's financial position right now. The upshot isthat if Severstal's
lenders agree, they are in a position to force the group tolower its debt and reduce its losses by selling assets. On the other hand,without lender agreement, Mordashov doesn't have the legal right to make dealshimself."