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Court to reconsider refusal to award $65 mln to major Russian developer

12:51 14/09/2011

MOSCOW, September 14 - RAPSI, Dmitry Shchitov. The Supreme Commercial Court has registered an appeal against a lower court decision denying Mirax-Fili, a subsidiary of a major Russian development company, its claim for $65 million against the federal government, the court's spokesperson told the Russian Legal Information Agency (RAPSI) on Wednesday.

Mirax Group, of which Mirax Fili is a subsidiary, was founded in 1994. The total area of the company's development projects amounts to 12 million square meters, including 825,000 square meters in completed development. Its major projects include the Federation business complex in Moscow City, Mirax Plaza business centers, and many others.

Mirax-Fili had sought compensation for construction work it performed between July 2008 and December 2009. The Federal Center for Social Development had contracted the work, but stated at court that it stopped financing the project in August 2008 after the contractors failed to fulfill their obligations. At that point, it decided to no longer authorize the scope of the project and its cost.

Mirax Group's press center told RAPSI that the amount it has sought is only a partial sum of its total claims against the center.

The application for review was filed by Moscow Engineering Company SM, which will take part in the proceeding as the third party.

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Court to reconsider refusal to award $65 mln to major Russian developer

12:51 14/09/2011 The Supreme Commercial Court has registered an appeal against a lower court decision denying Mirax-Fili, a subsidiary of a major Russian development company, its claim for $65 million against the federal government
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