VimpelCom settled a dispute with the owner of the office about the rent in foreign currency

“VimpelCom” (operates under the brand “Beeline”) and the company Tizpribor owned by the Fund Eastern Property Holdings (EPH), signed a settlement agreement in a dispute on foreign exchange rent business center Hermitage Plaza, told RAPSI.

The settlement agreement takes into account the balance of interests of both sides on a controversial relationship, said the representative of “VimpelCom”. “We have a number of preferences,” — he said, without specifying details.

The tenant receives a discount, the opportunity to enter to this office subtenants, as well as the right to withdraw from a number of areas,” said in turn the lawyer of Tizpribor”, without specifying the size of discount granted.

Agreement with the mobile operator and the landlord said at the meeting of the Arbitration court of the Moscow district on Wednesday. The question of the adoption of the agreement will be reviewed July 18 — the judge declared a recess to consider the terms of the document.

That “VympelCom” and Tizpribor going to settle the dispute, said Vedomosti, citing sources July 10. One of interlocutors of the edition told that the terms of the agreement require the review of the appeal of “VimpelCom” and giving the operator the right to lease office sublease and to relinquish the greater part of the space in 2017-2018. The result of the agreement, the operator may fully or partially exempt Hermitage Plaza, said another source of the newspaper.

In the business centre Hermitage Plaza located near the metro station “Mayakovskaya”, is now the head office of “VimpelCom”. A preliminary lease agreement of office with “Tizpribor operator signed in 2006. In 2009 were registered contract valid for 10 years. The rent in the contract was established through the so-called currency clause, that is supposed to be equivalent to certain parties, the amount in dollars.

In may 2015 the operator filed a lawsuit the claim about cancellation of the contract, and in December of that year, filed another suit, demanding to be paid in the contract currency clause by which in case if on the date of payment, the ruble will amount to less than 30 rubles per $1, payment should be made at the rate of 30 rubles., and if the course is more than 42 rubles. per dollar — at the rate of 42 rubles per $1. The company referred to article 451 of the Civil code, under which material change of circumstances may be grounds for alteration or termination of a contract concluded between business entities.

Both suits were consolidated by the court into one. In December 2015, the Moscow Arbitration court, considering a lawsuit, acknowledged that the sharp devaluation of the ruble is a sufficient basis for amendment of the contracts in which the price is fixed in foreign currency. The court of first instance dismissed the cancellation of the contract, but decided to change the contract in terms of the order establishing the rent.

The lawyers called the court’s decision under the claim “VympelCom” a precedent which will allow you to review all civil-law contracts concluded in foreign currency. However, in March, the Ninth arbitration appellate court cancelled the decision of the previous instance. The court of appeal considered that the growth of the dollar against the ruble “is not the significant factor, the occurrence of which cannot be foreseen, because, entering into a contractual relationship, the parties had to predict the economic situation in the light of the country’s monetary policy and the possibility of transition to the market rate of the U.S. dollar, therefore, could not exclude the possibility of a sharp weakening of the national currency in the period of execution of the transaction, including as a result of the above factors”. In may, VimpelCom filed an appeal in the Moscow district Arbitration court, asking to cancel the decision of the court of appeal and uphold the decision of the Arbitration court.