Filing of a lawsuit against a PIK Group subsidiary - новости ПИК от 12 марта 2014
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12 марта 2014

Filing of a lawsuit against a PIK Group subsidiary

Moscow, 12 March 2014 - PIK Group (LSE: PIK) was informed that the Moscow Arbitration Court will hear the lawsuit of Mosstroymekhanizatsiya-5, CJSC (MSM-5) against PIK Group’s subsidiary MFS-PIK, LLC related to the recovery of penalties for completion delays at a military community “Kuznetchiki” near the city of Podolsk under a contract dated July 1, 2009. The claims under the lawsuit amount to RUB 2.7 bn.

 

PIK Group views the claims as unjustifiable and maintains that all works by MFS-PIK, LLC were executed in a timely and proper manner. The Group intends to strongly defend its positions in the arbitration hearing.