Рейтинг@Mail.ru
RusEng

News

Deripaska's developer lawsuit against Olympstroy set for April 18

16:15 09/04/2013

MOSCOW, April 9 - RAPSI, Sergei Feklyunin. The Moscow Commercial Court has resumed the hearing of the Transstroy Engineering Corporations 1.5 billion ruble ($47.5 million) claim against Olympstroy.

The next hearing is scheduled for April 18. In February, the court adjourned the case until the cost and the quality of the plaintiff's work have been evaluated by experts.
Transstroy Deputy General Director Dmitry Oleinik told RAPSI earlier that the case involves its Imereti Valley project in Sochi. The dispute began due to several errors and inconsistencies in the initial project design, which were later corrected.

An Olymptroy representative stated in court that the plaintiff's arguments and demands are unjustified. The company has sent Transstroy a written refusal to accept the work due to substandard performance. In 2009, Transstroy won Olympstroy's contract after cutting the initial 2.5 billion ruble ($79 million at the current exchange rate) cost of the project by 38%. The plan was to build the First Olympic Stadium for the 2014 Winter Olympics' opening ceremony, as well as a number of ice-skating facilities.

Transstroy, part of Oleg Deripaska's construction holding, is the general contractor for infrastructure projects.

Olympstroy State Corporation was established to manage and supervise sports facilities design and construction for the 2014 Winter Olympics in Sochi.

Share thisE-mail this articlesubmit newsAdd to blogrss feed
Add to blog
To link to this material, copy the code to your blog.
Publishing code:
Preview:

Deripaska's developer lawsuit against Olympstroy set for April 18

16:15 09/04/2013 The Moscow Commercial Court has resumed the hearing of the Transstroy Engineering Corporations 1.5 billion ruble ($47.5 million) claim against Olympstroy.
Forward news story

All fields are mandatory!

Submit news

All fields are mandatory!

Share this

Top news