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«    April 2018    »

How Agalarov drew a 1.1 bln ruble charge from Russia for the objects of the Far-Eastern federal university

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How Agalarov drew a 1.1 bln ruble charge from Russia for the objects of the Far-Eastern federal university

The 9th Arbitrage and appeal tribunal has upheld the decision of the lower arbitrage brought by CJSC “Crocus International” belonging to Aras Agalarov on the drawing of 1.1 bln rubles from the RF Regional Development Ministry Far-Eastern Directorate, and in case of insufficient finance – from the RF presented by Ministry of the Far East development. 

As the company press office told Construction.ru, the second instance court declined appellate complaints from Ministry of Finance and the Ministry of the Far East Development of the RF about Moscow arbitrage’s decision, which came into effect after that.
To remind you, the disagreement arose due to the discrepancy in the assessment of the objects of the Far Eastern Federal University built in Vladivostok before the APEC Summit on the federal authorities' order. In particular, the embankment, landing, pond and waterfall, and the building of a fitness center (building D) with the total area of 5,000 square meters.
In the plaintiff’s opinion the customer did not pay in full. As it is stated in the first instance court's decision, "as the argued objects were commissioned by the plaintiffs and adopted by the respondent, their cost has been assessed by the court's examiners, the respondent owes the plaintiffs 892.6 m rubles.”
In April the court acted to collect this sum and also the charge for using attracted money. Among the objects built by Crocus Group are a multifunctional center “Crocus City,” an international exhibition center “Crocus Expo,” a concert hall “Crocus City Hall,” a trade and amusement center Vegas, a country estate Agalarov Estate, Sea Breeze on the Caspian sea, restaurants, hypermarkets’ network “Tvoi dom,” and the Metro station “Miakinino,”

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