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Major developer loses $5.8 mln lawsuit against Moscow government

17:59 19/09/2011

MOSCOW, September 19 - RAPSI, Alyona Yegorova. A commercial court of appeals has reaffirmed on Monday a lower-court's adverse judgment in Inteco's lawsuit against the Moscow government to recover 161.113 million rubles ($5.8 million), the Russian Legal Information Agency reports from the courtroom.

Inteco, which was established by former Moscow Mayor Yury Luzhkov's wife Yelena Baturina, sought to recover the actual expenses that it incurred as a result of the termination of a residential neighborhood construction contract with the Moscow Mayor's Office.

The Moscow Economic Policy and Development Department was a co-defendant.

Inteco claimed a refund of a 95.7 million ruble deposit paid to the city for access to the auction, as well as the cost of the project design and survey works.

Inteco is a diversified company and Russian development market leader. It is engaged in residential and other construction, cement production, architectural design, and real estate.

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Major developer loses $5.8 mln lawsuit against Moscow government

17:59 19/09/2011 A commercial court of appeals has reaffirmed on Monday a lower-court's adverse judgment in Inteco's lawsuit against the Moscow government to recover 161.113 million rubles ($5.8 million)
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