The developer apparently failed to reach an agreement with one of the co-investors on the joint implementation of a project in Perovo.
The Moscow Arbitration Court partially upheld the claim of the St. Petersburg company Gorizont, which had sought 14 billion rubles from Vniimontazhspetsstroy and PIK-Korporatsiya, two companies affiliated with PIK Group. According to the ruling, issued on September 29, the defendants must pay their now former partner 8.14 billion rubles, including 5.6 billion rubles in unjust enrichment and the remainder in interest for the use of other people’s money. Furthermore, the court ordered the termination of the investment agreement concluded between the parties back in September 2021. There are no other details in the case file.
Anna Zabrotskaya, Managing Partner at Nordic Star Law Offices in Russia, assessed the causes of the dispute between the co-investors.
The commentary is available at this link.