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Domodedovo Waited Until Off-Flight Weather
Russia’s federal property authority Rosimushchestvo has failed to grab back into the state ownership the Domodedovo air terminal building that belongs to the firms of East Line. The Supreme Arbitration Court interfered into the case that Rosimushchestvo won in the courts of three instances. The authority suspended execution of the award, giving a chance to East Line Group to seek the case reconsideration.
It emerged that the chamber of three judges of Supreme Arbitration Court suspended the resolution that the Moscow Region’s Arbitration Court had delivered January 18 in favor of Rosimushchestvo and that had been upheld by the Court of Appeal and the Court of Cassation.
Owner of Domodedovo air terminal building, Cyprus Hacienda Investments Ltd (a firm of East Line Group) went to the Supreme Arbitration Court June 20. The appeal was accepted for proceedings the same day and the court immediately demanded the case for detailed study.
The decision was made in five days - the judges ruled June 25 to suspend execution of the court resolution. Now they have a month to decide whether the case would be forwarded to the Supreme Arbitration Court Presidium.
East Line Group (that is said to be unofficially controlled by Dmitry Kamenshchik) acquired Domodedovo air terminal building in 1997. East Line spent over $1 billion for rebuilding purpose, according to the data of the RF Transport Ministry. Rosimushchestvo demands from Hacienda to return to the federal ownership 16 facilities, including three parts of the air terminal building, airport land side, car parking, warehouses and technical premises.
www.kommersant.com
All the Article in Russian as of July 02, 2008
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