Court validates recovery of $1.64 million from Moscow government
MOSCOW, October 7 - RAPSI, Dmitry Shitov. A court of appeals validated an investor's lawsuit to recover from the Moscow government about $1.64 million in losses, the court told the Russian Legal Information Agency (RAPSI) on Friday.
In October 2002, former Moscow Mayor Yuri Luzhkov signed a resolution on the construction of a multifunctional complex to develop the Pushkin Moscow Drama Theater's material, technical and production base.
The Puskinsky Tsentr and K company invested in the project.
However, the Moscow government ruled on September 15, 2009 to eliminate the investment contract to build the complex.
The Puskinsky Tsentr and K company's lawsuit contained a requirement to eliminate an investment contract with the Moscow government and recover $24.3 million. The first-instance court refused to satisfy the Moscow government's counterclaim to eliminate the contract.
The appeallate court validated the Moscow Commercial Court's August 16 decision to satisfy the investor's claim.