MOSCOW, July 11 - RAPSI. The Moscow Commercial Court recovered on Wednesday $2.91 million in unjust enrichment from the city government in the Inteco construction company's lawsuit.
The court partially satisfied the lawsuit, as the company initially sought 161.113 million rubles ($4.91 million). The Moscow Department for Economic Policy and Development was a co-defendant. Initially, courts in two instances satisfied Inteco's claims, but the appeals court remanded the dispute for reconsideration to the Moscow Commercial Court.
During a tender in September 2004, Inteco was granted the right to build housing on two plots. The company planned to build a micro-district on a territory with an area of 1 million square meters. However, it was forced to terminate the contract in 2009, as Moscow did not fulfill its obligations to eliminate third-party rights to the area, Inteco said.
Earlier, the court involved Moskapstroy and TUKS-2 as third parties.
Inteco is a multi-profile company and one of Russia's top development firms.
In autumn 2011, businessman Mikhail Shiskhanov and Sberbank Investments acquired Inteco from Yelena Baturina, the wife of former Moscow Mayor Yuri Luzhkov.
Shishkhanov owned 95 percent of the shares in Inteco and its subsidiaries. Sberbank Investments acquired five percent. Shishkhanov holds a 97.079 percent share in Binbank's charter capital. He is also the president of the top-30 Russian bank. According to Forbes, he is one of the country's 200 richest businessmen. Sberbank Investitsii is a 100-percent Sberbank subsidiary. It was established in 2010 to manage investment assets.