Рейтинг@Mail.ru
RusEng

News

Directors' guild appeals dismissal of $24 mln lawsuit against Moscow

16:44 21/10/2011

MOSCOW, October 21 - RAPSI, Alyona Yegorova. The Film Directors' Guild Trading House Forum-XXI has appealed a court decision to dismiss a suit against the Moscow city government for $24.2 million over its disruption of a luxury housing project in central Moscow, the court told the Russian Legal Information Agency (RAPSI).

The Moscow Commercial Court held against Forum-XXI's lawsuit on September 19 ruling that the stature of limitations expired.

According to the guild, a claimant in the trial, the Moscow mayor's office signed investment contracts for the construction of an art center and hotel complex adjacent to the Christ the Savior Cathedral in central Moscow in 2000.

The Moscow city government and Forum-XXI entered into a 49-year lease agreement regarding the construction site.

The guild maintained that, pursuant to a government resolution, it invested in project engineering design and construction, but that Moscow authorities terminated the lease in 2005.

The claimant said a bank opened a $70 million credit line under which the guild obtained $20 million. The loan interest amounted to $5.4 million by the time the guild filed the lawsuit. In addition, the guild is claiming $15 million in other losses and $3.8. million in lost profit.

A city spokesperson argued that the statute of limitations had expired because the lease agreement was declared null and void by the Supreme Commercial Court in November 2006.

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:

Directors' guild appeals dismissal of $24 mln lawsuit against Moscow

16:44 21/10/2011 The Film Directors' Guild Trading House Forum-XXI has appealed a court decision to dismiss a suit against the Moscow city government for $24.2 million over its disruption of a luxury housing project in central Moscow.
Forward news story

All fields are mandatory!

Submit news

All fields are mandatory!

Share this

Top news