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Bank sues Inteco development company for repair expenses

12:47 21/10/2011

MOSCOW, October 21 - RAPSI, Sergei Feklyunin. A court has scheduled for December 6 its hearing of a $206,600 lawsuit filed by Soyuz Bank against Inteco, a development company owned by billionaire Elena Baturina, the court told the Russian Legal Information Agency (RAPSI).

The bank sues the developer for expenses on repairs held in the rented office.

Soyuz Bank also filed a lawsuit against Inteco for 11 million rubles ($350,555) in December 2010. The dispute then arose out of a pre-lease agreement for non-residential premises in Moscow.

The Moscow Commercial Court received a lawsuit on September 28.

Yelena Baturina Yelena Baturina

The Deposit Insurance Agency owns a 50 percent plus one share in the bank. The rest stake is owned by Ingosstrakh, which is a part of oligarch Oleg Deripaska's Basic Element.

Inteco is a diversified leading development company in Russia. The company was founded by Elena Baturina, the Russia's richest woman and the wife of former Moscow mayor Yuri Luzhkov.

In early September Inteco and Sberbank, the largest Russian bank, announced that BinBank's owner Mikhail Shishkhanov in partnership with Sberbank Investment will acquire Inteco, Patriot company and all their assets. Elena Baturina's brother Viktor, a shareholder of Inteco, earlier attempted to challenge the acquisition in court.

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Bank sues Inteco development company for repair expenses

12:47 21/10/2011 A court has scheduled for December 6 its hearing of a $206,600 lawsuit filed by Soyuz Bank against Inteco, a development company founded by billionaire Elena Baturina.
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