MOSCOW, January 14 (RAPSI) - The Moscow Commercial Court has scheduled the main hearings in the case of Cyprus-registered Bockmer Ventures Limited, representing the interests of Sergei Polonsky’s co-investors, against Potok & 0458 (formerly Mirax City) for February 27, the court told RAPSI. The plaintiff has filed a claim for $47.5 million.

Initially, Polonsky’s co-investors requested that Potok & 0458 repay over $47 million in debts, or provide premises to the same value in the Federation Tower of the Moscow City business center. In its court claim, Bockmer Ventures requests the investment contract to be terminated and to be repaid $17.5 mln in debts, plus $5.2 mln in interest for using a third party’s funds, and $24.8 mln in damages.

The plaintiff explained to the court that the lawsuit was filed because the construction of the Federation Tower is still incomplete and it is not clear when it will be complete or when the plaintiff will be granted the use of the premises.

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.

Polonsky was charged in absentia last July as part of a criminal case involving the embezzlement of over 5.7 billion rubles (over $176 million) from the participants in an up-market cooperative residential construction project in central Moscow.