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Court postpones $181 mln lawsuit against Moscow government until January 18

14:21 30/11/2011

MOSCOW, November 30 - RAPSI, Natalia Belova. A commercial court postponed until January 18 a developer's lawsuit against the Moscow government regarding the cancellation of a hotel construction contract, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

The developer seeks to recover 5.64 billion rubles ($181 million).

The court upheld the defendants' appeal and postponed the hearing as a similar lawsuit submitted earlier is still being examined in court.

During the previous hearing, the developer elaborated his claim and sought to recover from each respondent party an advance payment of 686.2 million rubles ($21.96 million) for a commodity that had not been handed over by the seller, lost profit of 4.19 billion rubles ($134.09 million), interest on an advance payment of 200.8 million rubles ($6.42 million) and real damages of 561.87 million rubles ($17.98 million).

The plaintiff changed the amount of claims several times.

The Moscow government and Kurskaya Ploshchad, which owns a nonresidential building near the Kursky Vokzal Railway Station, signed a co-investment contract in December 2005. The company was to invest 99 percent of the project cost. The Moscow government was to invest one percent.

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Court postpones $181 mln lawsuit against Moscow government until January 18

14:21 30/11/2011 A commercial court postponed until January 18 a developer's lawsuit against the Moscow government regarding the cancellation of a hotel construction contract.
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