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38 MILLION INSTEAD OF 3.8 BILLION: CROCUS INTERNATIONAL HAS AGREED WITH AVTODOR

... termination of judicial proceedings in the case (No. A40-150421/2023). The resolution was announced on January 22. The process was initiated by the state-owned company in July 2023. The initial amount of the claim was more than 3.89 billion. Thus, the settlement agreement was concluded on the terms of payment of 1% of the initial claims. In 2014, Crocus International signed an investment contract with Avtodor. The company acted as a contractor in the project for the construction of the first launch complex of the Central Ring Road in the Moscow region. The customer (Avtodor) was not satisfied that the company violated the terms of the contract in 2022,...

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