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Russia's richest woman company disputes court ruling

16:25 31/07/2012

MOSCOW, July 31 - RAPSI. The Ninth Commercial Court of Appeals has registered TD Setunskaya's appeal against the court ruling concerning the ban on alienation of a 16.387 hectare land plot in western Moscow, the court told the Russian Legal Information Agency on Tuesday.

Yelena Baturina, the wife of former Moscow Mayor Yuri Luzhkov and Russia's richest woman, is Setunskaya's major shareholder.

The Moscow Commercial Court prohibited Setunskaya from performing any actions "related to the disposal or the encumbrance of the land in question." The court ruled to seize the land on June 21 following a lawsuit filed by the Federal Agency for State Property Management. Interim relief was enforced on June 27 upon the watchdog's request.

Setunskaya is a subsidiary of the major Russian real estate company Inteco, which has frequently been accused of dominating the Moscow real estate market.
Inteco was previously owned by Baturina.

The watchdog said part of the land plot overlaps an area reserved by a 1993 presidential decree. The area was set aside for the construction of diplomatic facilities.

The Matveyevskoye company is a third party in the dispute.

Baturina purchased the land from the company in 2003.

Setunskaya has challenged the lawsuit, claiming that Matveyevskoye had acquired the right to the land before the decree was signed.

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Russia's richest woman company disputes court ruling

16:25 31/07/2012 The Ninth Commercial Court of Appeals has registered TD Setunskaya's appeal against the court ruling concerning the ban on alienation of a 16.387 hectare land plot in western Moscow.
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