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IKEA appeals denial of $1.3 mln suit against ex-wannabe president in Russian Supreme Court

10:58 22/01/2020

MOSCOW, January 22 (RAPSI) - IKEA's Russian division IKEA Mos has challenged refusal to recover 79.5 million rubles ($1.3 million at the current exchange rate) from ex-presidential candidate Pavel Grudinin's TT Development company in the Supreme Court of Russia, according to court records.

The claimant has filed an appeal against rulings delivered by lower commercial courts in April, July and November 2019.

IKEA Mos is seeking from TT Development about 79.5 million rubles ($1.3 million) in penalties for the alleged breach of its obligations in connection with a land sale deal that was entered into on December 30, 2015.

Earlier, the parties petitioned for an approval of a settlement agreement made for the establishment of legal certainty as concerned their rights and liabilities; however, this petition was dismissed by a court on March 19 citing a failure to comply with the relevant legislation and infringe on lawful interests and rights of third parties.


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IKEA appeals denial of $1.3 mln suit against ex-wannabe president in Russian Supreme Court

10:58 22/01/2020 IKEA's Russian division IKEA Mos has challenged refusal to recover 79.5 million rubles ($1.3 million at the current exchange rate) from ex-presidential candidate Pavel Grudinin's TT Development company in the Supreme Court of Russia.
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