MOSCOW, August 26 (RAPSI) – IKEA's Russian division IKEA Mos has submitted a cassation appeal against a court’s refusal to recover 79.5 million rubles ($1.2 million) from ex-presidential candidate Pavel Grudinin's TT Development company, according to the records of the Moscow District Commercial Court.
The Commercial Court of Moscow Region dismissed the IKEA Mos’ claim on April 25. The claim was also dismissed by the Tenth Commercial Court of Appeals on June 18.
IKEA Mos is seeking from TT Development about 79.5 million rubles ($1.2 million) in penalties for the alleged breach of its obligations in connection with a land sale deal that was entered into on December 30, 2015.
Earlier, the parties has petitioned for an approval of a settlement agreement made for the establishment of legal certainty as concerned their rights and liabilities; however, this petition was dismissed by a court on March 19 citing a failure to comply with the relevant legislation and infringe on lawful interests and rights of third parties.