Thursday, April 15, 2010

Moscow Government Loses Rent Case to McDonald’s

The Moscow Circuit Arbitrazh (Economic) Court reversed lower courts’ decisions and enforced a 1992 rental agreement between the Moscow government and McDonald’s fixing for 20 years the annual rent amount at 1 ruble ($0.03) per square meter. The government, referring to "changed circumstances," wanted to increase the rate to at least $40 (the current minimal municipal rent); the current market rate is around $1,000.

http://www.vedomosti.ru/newspaper/article/2010/04/14/231294

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