MADISONS announces that due to a dispute between the owners of IMC Mall Mr. Andreas Kaisis and IMC INTERNATIONAL MERCHANDISING CENTER LTD, the latter chose to attack MADISON via an announcement to the daily press.
In order to restore the truth, the Company announces that:
(i) With its legal action 10416/10, it requires by the owners more than €19,000,000 plus interests and costs, as a compensation for the violation of the agreement.
(ii) The action no. 43/2011 of Madisons Ltd, filed by owners Andreas Kaisis and IMC INTERNATIONAL MECHADISING CENTER LTD was rejected.
(iii) The Company has been acquitted in criminal case 17047/09.
(iv) The Council of Ministers and other competent authorities such as the Strovolos City Council, the Urban Planning Department etc, the use of Madisons as Mall.
(v) The owners, instead of waiting for the outcome of the court cases, decided to intervene to create more damage than they already have with their actions so far.
(vi) The Company, in order to secure its interests, has instructed its legal advisors to file a legal action against the above. The tenants of Madisons are considering doing the same, as they accept an unfair and misleading attack.
In order to restore the truth, the Company announces that:
(i) With its legal action 10416/10, it requires by the owners more than €19,000,000 plus interests and costs, as a compensation for the violation of the agreement.
(ii) The action no. 43/2011 of Madisons Ltd, filed by owners Andreas Kaisis and IMC INTERNATIONAL MECHADISING CENTER LTD was rejected.
(iii) The Company has been acquitted in criminal case 17047/09.
(iv) The Council of Ministers and other competent authorities such as the Strovolos City Council, the Urban Planning Department etc, the use of Madisons as Mall.
(v) The owners, instead of waiting for the outcome of the court cases, decided to intervene to create more damage than they already have with their actions so far.
(vi) The Company, in order to secure its interests, has instructed its legal advisors to file a legal action against the above. The tenants of Madisons are considering doing the same, as they accept an unfair and misleading attack.
Monday, 6 August, 2012 - 16:03