Privatization of Moscow's Sovetskaya Hotel validated
MOSCOW, September 1 - RAPSI, Dmitry Shchitov. The Moscow District Federal Commercial Court has dismissed a lawsuit filed by the Federal Agency for State Property Management (Rosimushchestvo) to invalidate a 2008 bid to sell the Sovetskaya Hotel to the Moscow authorities, the Russian Legal Information Agency (RAPSI) reports from the courtroom.
The court has dismissed Rosimushchestvos cassation appeal.
Sovetskaya Limited paid $63 million for the Sovetskaya Hotel - a building of historical significance. The renowned Yar restaurant was once located there. The initial price was $46 million.
Rosimushchestvo filed a lawsuit to invalidate the bid in February 2009.