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Loss assessment in Strabag's $29 mln dispute with insurers to be decided in March

13:51 13/01/2012

MOSCOW, January 13 - RAPSI, Alyona Yegorova. A court is expected to decide on March 14 the issue of loss assessment in the $29 mln suit initiated by Austrian Strabag AG construction company against insurers, the Russian Legal Information Agency (RAPSI/rapsinews.com) reported on Friday.

Strabag challenged the indemnity amount paid by Ingosstrakh, Chartis and ACE insurance companies for an accident when a multiple-story underground parking in the Vivaldi Plaza office and hotel complex in Moscow collapsed in September 2009. The building with an underground parking area was built by Strabag AG.

The petition for a loss assessment was filed by the defendants and supported by the claimant on Friday. Strabag also agreed that the assessment be carried out by the Russian Federal Center of Forensic Inquiry at the Justice Ministry, proposed by the defendants.

Austrian construction group Strabag was founded in 1835. Strabag has been operating in Russia from 1991 under the "Ilbau" brand. Strabag's Russian division was founded in 1999.

Founded in 1947, Ingosstrakh is Russia's leading insurance company. It operates offices in 231 towns and cities across Russia.
The Chartis Group is the world leader in property and life insurance. It serves over 70 million clients in more than 160 countries.

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Loss assessment in Strabag's $29 mln dispute with insurers to be decided in March

13:51 13/01/2012 A court is expected to decide on March 14 the issue of loss assessment in the $29 mln suit initiated by Austrian Strabag AG construction company against insurers.
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