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Moscow authorities' dispute over trade center to be heard in February

13:17 30/01/2012

MOSCOW, January 30 - RAPSI, Alyona Yegorova. A commercial court put off until February 29 the hearing of the Moscow Property Department's lawsuit to invalidate the Kiev Square company's ownership of 125,900 square meters of floor space in the Evropeisky Trade Center, the Russian Legal Information Agency (RAPSI) reported from the courtroom on Tuesday.

In its lawsuit filed with the Moscow Commercial Court, the department sought to annul the registration of the ownership rights to the trade center by the Europe Square and the Kiev Square (Kievskaya Ploshchad) companies. The lawsuit against the Square of Europe will be heard on February 28.

Earlier the department said that the parties were to receive property in the trade center in accordance with the act on the investment project fulfillment. But the act was not signed by the Moscow government, which is a party to the contract.

Meanwhile, the Moscow Property Department (owns 30 percent in trade center) and Kievskaya Square (owns 70 percent) are the shareholders of Europe Square, which actually owns 53,900 square meters. The department stated though that no specific area was allocated to the city.

At the same time, the investment contract on the construction of the trade center stipulated that some 30 percent of the constructed building will belong to the capital.

According to the report, the Evropeisky Trade Center's total area is 179,900 square meters, which exceeds its initial floor space by 102,900 square meters. Thus, the Moscow government believes that it is entitled to any areas that were additionally built as part of its investment project.

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Moscow authorities' dispute over trade center to be heard in February

13:17 30/01/2012 A commercial court put off until February 29 the hearing of the Moscow Property Department's lawsuit to invalidate the Kiev Square company's ownership of 125,900 square meters of floor space in the Evropeisky Trade Center.
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