A commissioner of the construction of Hyatt Regency Rostov Don-Plaza hotel dropped its claim to the general contractor of the project, Energoprojekt Visokogradnya based in Serbia, to recover 767 million rubles of the lost profit, as follows from a file of the Rostov regional Arbitration court.
The company MCC-RosEuroDevelopment based in the Russian city of Rostov-on-Don acts as the project’s commissioner. The court hearing was held on March 28, as a result of which the proceeding in the case was terminated.
“According to provisions of the company's charter and the book value of assets, release of claims in the amount of 767 million rubles is not a major transaction for the plaintiff because of the content of the disputed relations between the parties (....) And refers to a transaction made in the course of ordinary business activities,” the document reads.
Earlier it was reported that in 2012, MCC-RosEuroDevelopment and Energoprojekt Visokogradnya signed a general contract for the design and construction in Rostov-on-Don of an international congress center and its five-star hotel, Hyatt Regency Rostov Don-Plaza. The contract provided for the facility’s commissioning no later than on October 31, 2015.
“The defendant did not fulfill its obligations, which was the reason for filing a lawsuit to the court to recover 767 million rubles of lost profits,” the court’s press office informed.