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Airline wins $68 mln award from airport developer

16:46 15/11/2011

MOSCOW, November 15 - RAPSI, Natalia Belova. A commercial court ordered the GS Corporation on Tuesday to pay $68 million to the KD Avia Kaliningrad airline, the Russian Legal Information Agency (RAPSI) reports from the courtroom.

The awarded amount includes 1.658 billion rubles ($54.7 million) in unjust enrichment and 415 million rubles ($13.3 million) in penalties.

The claim was satisfied only partially as the plaintiff initially sought 2.5 billion rubles ($82.5 million).

KD Avia and the GS Corporation entered into a contract in 2004 under which the latter was contracted to build airport terminals in Kaliningrad.

After paying the GS Corporation for the work, KD Avia decided to file a lawsuit to rescind the contract and obtain a refund of the money as unjust enrichment since February 2007. The company has argued that the contract was incomplete due to the lack of a subject and completion deadline.

KD Avia applied for its own bankruptcy with the Kaliningrad Regional Commercial Court in September 2009. According to the application, its liabilities have totaled over 11.7 billion rubles ($386 million). The airline was under administration since October 2009. The court declared KD Avia bankrupt on November 11, 2010.

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Airline wins $68 mln award from airport developer

16:46 15/11/2011 A commercial court ordered the GS Corporation on Tuesday to pay $68 million to the KD Avia Kaliningrad airline.
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