Chigirinsky conflict with Moscow authorities appears to be coming to a close

According to Russian business daily Kommersant (8 November 2012), it would appear that the longstanding conflict between the Moscow authorities and Shalva Chigirinsky is close to resolution. The Federal Antimonopoly Service has granted the petition of GAO Moskva owned by the Moscow authorities relating to the purchase of the company ST Development, which had been reconstructing Hotel Rossiya since 2004.

ST Development, owned by Chigirinsky, had won the tender to reconstruct Hotel Rossiya, only to subsequently lose out to a competitor, which successfully contested in court the company’s right to carry out the reconstruction. Since then Chigirinsky has sought to recover losses form the Moscow authorities amounting to an estimated RUB 4.8 billion.

The acquisition of ST Development would appear to a solution aimed at resolving outstanding litigation once and for all.

 

 

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