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Far Eastern construction company loses $35.2 mln suit against insurer

11:25 17/02/2012

MOSCOW, February 17 - RAPSI. A commercial court dismissed on Thursday a Far Eastern construction company's lawsuit against major insurer for $35.2 million, the Russian Legal Information Agency (RAPSI/rapsinews.com) reported from the courtroom.

The hearing proceeded in the absence of the plaintiff, Dalmorstroy.

The dispute is centered on the construction of a highway bridge across Zolotoy Rog Bay from Vladivostok to Russky Island.

Initially the lawsuit was filed against the Sogaz insurance company and the TMK bridge construction company, but later the court separated the lawsuit to TMK and referred it to the Khabarovsk Territory Commercial Court.

Dalmorstroy, subcontractor, and TMK, prime contractor, entered into a contract on the construction and assembly works on August 15, 2008.

The plaintiff maintains that the works it executed and delivered in 2008-2009 as well as in January and February 2011 have not been paid in full and therefore it went to court. Its claims to the insurer are based on the insurance policy between the codefendants under which Sogaz shall incur joint liability, argues the plaintiff.

Sogaz argued that it insured the works, rather than the parties' liability under contracts.

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Far Eastern construction company loses $35.2 mln suit against insurer

11:25 17/02/2012 A commercial court dismissed on Thursday a Far Eastern construction company's lawsuit against major insurer for $35.2 million.
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