MOSCOW, December 26 - RAPSI, Dmitry Shcitov. The Supreme Commercial Court will not reconsider the decision denying Strabag, an Austrian construction company, the right to seize land plots from the Moscow regional authorities, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).
The lawsuit was filed by the Strabag's Russian subsidiary.
The 2.4-hectare land plots in Moscow Region are located on the construction site of an incomplete business center, which the plaintiff has also requested to make subject to execution.
Strabags claims are based on a contract with Stroybusinessnovatsiya, the main building contractor, under which Strabag was to execute construction operations.
Stroybusinessnovatsiya failed to pay about 1.5 billion rubles ($48 million) for the executed works. Strabag then recovered the debt in court.
The Moscow Commercial Court passed the relevant ruling in June 2010.
The business center has been constructed on land owned by the Moscow regional authorities. In Strabag's opinion, the incomplete building should be seen as an inseparable improvement of the property. Thus, it requests levying execution on the land plots and the building.
Strabag was established in 1835. It has been operating in Russia since 1991. Strabag's Russian portfolio is estimated at 3 billion euro