ST. PETERSBURG, April 4 - RAPSI. The Supreme Commercial Court has refused the Serbian-based IHTM company in its request to review the case on returning Kirishinefteorgsintez assets worth over $5.98 million.
As part of the case, IHTM insisted on the return of over 150 temporary buildings built during contracted works at the oil refinery where an oil processing complex is being constructed.
The St. Petersburg and Leningrad Regional Commercial Court left the lawsuit unconsidered. The Thirteenth Commercial Court of Appeals and the Federal Commercial Court of the North-Western District confirmed the decision in October 2011 and January 2012.
According to the ruling dismissing the case's reconsideration, the first-instance court found that the property in dispute was constructed during the term of a contract concluded in May 2007.
Pursuant to the document, the dispute with the Kirishi oil refinery is subject to be resolved in the International Commercial Arbitration Court by the Russian Chamber of Commerce and Industry.
Kirishinefteorgsintez is a city-forming enterprise in Kirishi in the Leningrad Region, which provides for over 40 percent of the regional budget's income. More than 6,500 people work at the enterprise. The refinery was built in mid-1960s. In 1993 it became part of Surgutneftegas.
Kirishinefteorgsintez is a subsidiary of Surgutneftegas.