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Russian Technologies lawsuit against contractor postponed

14:29 10/11/2011

MOSCOW, November 10 - RAPSI, Alyona Yegorova. A commercial court postponed until December 13 its hearing of the state-run Russian Technologies Corporation's case to recover $139.24 million from Tekhnointorg, the Russian Legal Information Agency (RAPSI) reported from the court on Thursday.

Tekhnointorg, built in 1979, is part of the Economic Development Ministry. It has been included in the state register of organizations conducting foreign economic activity.

Some 439 Russian organizations make up the state corporation. It produces 23 percent of the defense industry complex's products.

Tekhnointorg was involved in constructing 14 federal advanced medical technologies centers as part of the Health national project. Russian Technologies was the customer.

The suit is connected with the recovery of debts for the facilities.

The corporation told RAPSI that its claim to recover illegally retained funds amounts to $131.69 million plus interest.

On Thursday, the corporation increased its claim for interests from $5.02 million to $7.57 million.

Additionally, Russian Technologies' lawyers provided evidence confirming the debt amount. The judge postponed the hearing to grant Tekhnointorg time to familiarize itself with the documents. The court also proposed that the parties examine a possible settlement.

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Russian Technologies lawsuit against contractor postponed

14:29 10/11/2011 A commercial court postponed until December 13 its hearing of the state-run Russian Technologies Corporation's case to recover $139.24 million from Tekhnointorg.
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