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Baturina to contest watchdog-requested ban on land transactions

12:52 06/07/2012

MOSCOW, July 6 - RAPSI. Yelena Baturina, Russia's richest businesswoman and wife of former Moscow mayor, will challenge the interim relief in the property management watchdog's lawsuit to take control over 16 hectares of Setunskaya's land, Baturina's representative told the Russian Legal Information Agency on Friday.

The Moscow Commercial Court prohibited Setunskaya, with Baturina as its major shareholder, from performing anything "related to the disposal or encumbrance of the land in question".

On June 21, the court ruled to take the 16.387 hectare land plot in western Moscow away from Setunskaya in response to the lawsuit filed by the Federal Agency for State Property Management. The interim relief was enforced on June 27 at the watchdog's request.

Setunskaya is a subsidiary of Inteco, Russia's major real estate company, which has often been accused of dominating Moscow's real estate market. Inteco was previously owned by Baturina.

The regulator believes that part of Setunskaya's 24.4 hectare land plot overlaps an area reserved by a 1993 presidential decree.

This area was set aside for the diplomatic constructions.

The Matveyevskoye company is a third party to the dispute. Baturina purchased the land plot in dispute from the company in 2003.

Setunskaya has challenged the lawsuit, claiming that Matveyevskoye company gained the rights to the land plots in dispute before the decree was signed.

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Baturina to contest watchdog-requested ban on land transactions

12:52 06/07/2012 Yelena Baturina, Russia's richest businesswoman and wife of former Moscow mayor, will challenge the interim relief in the property management watchdog's lawsuit to take control over 16 hectares of Setunskaya's land.
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