MOSCOW, August 27 (RAPSI) - The Ninth Commercial Court of Appeals affirmed the dismissal of a lawsuit filed by Cyprus-based Bockmer Ventures Limited (Bockmer) seeking up to $49 million from real estate developer Federation Tower ZAO (former Mirax City affiliated with Sergei Polonsky's Mirax Group), RAPSI learnt in the court on Wednesday.

Bockmer claimed $17.5 million in debt, plus $6.7 million interest, and $24.8 million in damages. The company also requested that its investment contract with the developer to be terminated.

Bockmer complained that the deadline for the construction of the Federation Tower was missed and it was unclear when it would be granted a premises licence.

The Moscow Commercial Court dismissed the suit in May, and Bockmer appealed against the ruling.

Moscow authorities have been brought into the proceedings as third party.

Initially, Bockmer requested that the developer pay off over $47 million in debt or provide premises in the Federation Tower of the Moscow City business center.

Mirax Group (later renamed Potok8) was founded in 1994. In November 2013, Polonsky’s former lawyer, Alexander Dobrovinsky, announced that Polonsky had sold Potok to Roman Trotsenko’s businesses without any pressure from the purchaser. However, the press service of the businessman’s current lawyer, Alexander Karabanov, later reported that Potok was sold for $100 million under pressure. The price is almost four times lower than the business’s actual value. It was also claimed that Polonsky had not yet received the money. Polonsky himself has said that he is not clear who currently owns Potok. Roman Trotsenko’s AEON corporation announced last December that the Federation Tower was planned for completion in December 2015.