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Inteco appeals dismissal of $5.5 mln claim against Moscow government

17:27 24/11/2011

MOSCOW, November 24 - RAPSI, Alyona Yegorova. The Inteco development company has appealed on Thursday the court's refusal of its 161.1 million ruble ($5.58 million) claim against the Moscow government, the court told the Russian Legal Information Agency (RAPSI).

Inteco is a leading diversified development company in Russia. The company is owned by Yelena Baturina, the Russia's richest woman and the wife of former Moscow Mayor Yuri Luzhkov.

Yelena Baturina Yelena Baturina

Inteco sought to compensate the losses that it sustained after the Moscow government terminated an investment contract with the developer. The Moscow Commercial Court held against Inteco's lawsuit on July 8 and the judgment came into force in September.

Inteco claimed back 95.7 million rubles ($3.3 million) that it had provided to the Moscow government after winning the construction bid, as well as compensation for design and survey work.

Inteco won a public bid to develop two land plots in Moscow in September 2004.

Inteco expected to build a 1 million square meter residential area, but was forced to terminate the contract in 2009 after the Moscow government failed to clear the construction area of third-party ownership, Inteco said earlier.

The Moscow Commercial Court held against the lawsuit, stating that the contract was terminated by mutual agreement and did not specify the scope of mutual rights and responsibility.

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Inteco appeals dismissal of $5.5 mln claim against Moscow government

17:27 24/11/2011 The Inteco development company has appealed on Thursday the court's refusal of its 161.1 million ruble ($5.58 million) claim against the Moscow government.
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