Court rules in favor of UKS-Invest

Sverdlovsk Region Arbitration court settled the claim laid by UKS-Invest against Avtofrans on July 24, 2009. The plaintiff insisted on the defendant paying them 6,110,680.91 RUR, of which 5,871,434.01 RUR is the money owned by Avtofrans to the plaintiff for the jobs related to their construction agreement. The agreement was signed on January 17, 2006 and obliged UKS-Invest to finance the construction, to act as the building owner and find the contractors. The remaining 239,246.9 RUR is the interest charged for use of borrowed money between January 14, 2009 and May 28, 2009 (in compliance with Article 395 of the Russian Federation Administrative Code) plus the interest charged until the day the bulk of the debt’s sum was actually paid.

Having looked into the case, the Arbitration Court ruled in favor of fully sustaining the claim (considering the lowered interests, however).

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