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Inteco to appeal claim dismissal to Moscow government on Dec. 8

11:38 15/11/2011

MOSCOW, October 15 - RAPSI, Alyona Yegorova. A federal commercial court will hear on December 8 a cassation appeal filed by Inteco against the adverse decision in its lawsuit for $4.24 million against the Moscow government, the Russian Legal Information Agency (RAPSI) reported from the courtroom on Tuesday.

Inteco is a diversified construction company and Russia's development market leader.

Inteco sought to recover its expenses for a kindergarten design and construction near the Arco di Sole residential area.

The kindergarten was built in accordance with an investment contract signed between Inteco and the Moscow government. Inteco said that pursuant to the contract the company is entitled to compensation for the incurred losses.

The Moscow Commercial Court dismissed Inteco's claims in June and the judgment went into force in August.

The government's attorney has argued that a completion report required by the project's investment contract had not been signed before Inteco filed its suit. Therefore, he said, Inteco's claims were premature. He added that Inteco only partially fulfilled its obligations under the contract: while Inteco built the kindergarten, it did not finish constructing housing which was also part of the agreement.

The plaintiff disagreed and observed that the housing has been built and commissioned, the completion report has been signed by Inteco and forwarded to the Moscow government which did not sign it for a year giving no reasons.

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Inteco to appeal claim dismissal to Moscow government on Dec. 8

11:38 15/11/2011 A federal commercial court will hear on December 8 a cassation appeal filed by Inteco against the adverse decision in its lawsuit for $4.24 million against the Moscow government.
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