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Major developer prevails in $4.9 mln suit against another

13:18 24/10/2011

MOSCOW, October 24 - RAPSI, Natalia Belova. A commercial court satisfied on Monday the DSK-1 construction company's $4.9 million lawsuit against the SU-155 construction company, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

DSK-1 is a leading housing construction company. It specializes in panel house building.

SU-155 is one of Russia's largest construction companies and has been operating for over 50 years. It comprises more than 140 independent entities, including 28 industrial facilities in 17 cities.

The award includes 150 million rubles ($4.8 million) in principle debt and the accrued interest.

SU-155 earlier explained to RAPSI that DSK-1 based its claims on a contract whereby it assigned its claims to third parties to SU-155. The assignment cost the assignee about 130 million rubles ($4 million).

The defendant requested lowering the interest stated in the claim.

Earlier SU-155 said it would propose an amicable settlement.

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Major developer prevails in $4.9 mln suit against another

13:18 24/10/2011 A commercial court satisfied on Monday the DSK-1 construction company's $4.9 million lawsuit against the SU-155 construction company.
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