Moscow government seeks major developer's contract termination
MOSCOW, October 13 - RAPSI, Sergei Feklyinin. A commercial court will hold on November 2 a preliminary hearing of the Moscow government's lawsuit against the Capital Group and the state-run Muzeon cultural complex, the court told the Russian Legal Information Agency (RAPSI).
The project in question implied the construction of hotels and administrative buildings as well as the Muzeon art park in central Moscow.
New Moscow Mayor Sergei Sobyanin resolved to review all investment contracts involving Moscow government in February. The resolution provided for the project agreement's termination for the "absence of proper documentation for all the facilities' sites contemplated by the contract."
The lawsuit was filed on September 30.
RAPSI has yet to obtain the parties' comments.
The Capital Group has been present on the market since 1993. Its portfolio has over 70 projects completed, designed or developed, spanning over 7 million square meters. The company is owned by Vladislav Voronin and Pavel Te.