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Court validates recovery of $1.64 million from Moscow government

16:37 07/10/2011

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.

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Court validates recovery of $1.64 million from Moscow government

16:37 07/10/2011 A court of appeals validated an investor's lawsuit to recover from the Moscow government about $1.64 million in losses.
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