MOSCOW, March 20 - RAPSI. The Moscow Commercial Court postponed until April 19 the hearings into a $123.58 million lawsuit filed by a Moscow-based developer against the Finance Ministry.
The Middle Shopping Mall (Sredniye Torgovye Ryady) development company seeks to fully recover the expenses for the renovation project on Moscow's Red Square.
The hearings were postponed so that to allow the Defense Ministry, a third party to the dispute, submit its evidences.
The Moscow Commercial Court partially upheld Middle Shopping Mall's lawsuit in June and awarded it 1.68 billion rubles ($57.67 million).
The appeal against the judgment was filed by the developer itself and by Mezhprombank, a third party to the dispute. The bank granted a loan to the claimant to fulfill the project.
The renovation project was designed in 2000. In 2004, Sergei Pugachyov's United Industrial Corporation (UIC) invested in the project. According to the media, the plaintiff is connected with UIC.
However, the building, which was subject to renovation, was granted to the Federal Protective Service in 2010. The previous owner of the building considered the contract to be terminated as it was no longer able to fulfill the project.
Middle Shopping Mall filed a lawsuit in order to recover the funds it spent on the renovation.