12 Mar 2014 15:46
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.
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Investors | Media |
Andrey Machanskis | Public Relations |
Head of Investor Relations | |
Tel: +7 495 505 97 33 ext. 1157 / 1315 | Tel: +7 495 505 97 33 ext. 1010 /1014 |
E-mail: ir@pik.ru | E-mail: pressa@pik.ru |
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