The court will begin today to address the dispute between Ostrava and the company Amádeus Real

Ostrava - The District Court in Ostrava will today begin addressing the dispute between the city and Amádeus Real, which is demanding approximately 1.6 billion crowns as compensation for a failed investment. A similar dispute is ongoing with the city of Plzeň, where the court previously ruled that the city does not have to pay the company more than 1.85 billion crowns as compensation for an unrealized project.

The company Amádeus Real was preparing to build a shopping center in the center of Ostrava. In 2012, it withdrew from the purchase agreement for the land at Dr. Edvard Beneš Square, where the commercial complex was supposed to be located. This occurred after the central city district of Moravská Ostrava and Přívoz did not grant approval for the construction, which was later issued to the company. However, the city did not recognize the withdrawal from the contract. On the contrary, it is engaged in a legal dispute with the developer over the repayment of installment payments for the land as well as contractual penalties.