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Inteco's $4.4 mln lawsuit against Moscow government postponed

14:55 02/04/2012

MOSCOW, April 2 - RAPSI. The Moscow Commercial Court has postponed its hearing of the Inteco construction company's lawsuit for $4.4 million in damages from the Moscow government.

The delay resulted from the absence of the lay judges who will consider the dispute jointly with the judge. The hearing date will be scheduled later upon agreement with the parties.

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

The kindergarten was built under an investment contract between Inteco and the Moscow government. The project implied the development of a multipurpose complex, including non-residential premises and underground parking.

Inteco maintains that it has performed its obligations in full. Now, it requires compensation for the construction costs earlier agreed upon by the parties.

Moscow holds that the claims are premature as the final project completion report has yet to be executed.

Additionally, the defendant has filed a counterclaim amounting to $850,000. Moscow thinks the area of the newly built premises exceeds the space allowed by the contracts and the government seeks compensation for the expenses required by an extra infrastructural load.

Inteco argues that the latest contract version stipulated the construction of over 80,000 square meters - not 60,000.

Further, the authorities need to prove the load increase as its calculation methods do not apply to such legal relations.

Inteco is a diversified construction company and Russia's development market leader. It is engaged in residential and other construction, facade finishing technique development, cement production, architectural design and real estate.

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Inteco's $4.4 mln lawsuit against Moscow government postponed

14:55 02/04/2012 The Moscow Commercial Court has postponed its hearing of the Inteco construction company's lawsuit for $4.4 million in damages from the Moscow government.
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