INFRALEX lawyers held a seminar for Sberbank employees on the topic of participation of banks in equity construction: new aspects in regulation and judicial practice.
On September 12, 2019, INFRALEX lawyers and managing partner Artem Kukin held a training seminar for employees of 15 territorial banks in Sberbank's AGILE-office. The topic of the seminar was the reform of the legislation on equity participation construction, which provides for the transition from shared construction to project financing with the use of escrow accounts. Most of the amendments entered into force on July 1, 2019, so the developers and banks are waiting for significant changes.
At the event, INFRALEX lawyers spoke about the key legislative innovations and their impact on the banking industry, interaction with the Fund for the protection of the rights of interestholders, the optimal behavior of banks at each stage of the bankruptcy case of the developer, construction financing and other changes.
Starting the seminar, the head of the analytical service Olga Pleshanova told about the role of the Fund for the protection of the rights of intresestsholders in the developers’ bankruptcy proceedings, its goals and participation in the activities for the completion of construction.
Head of bankruptcy practice Stanislav Petrov and lawyer Sergey Khuhorev in their speech highlighted the changes in the legal regulation of bankruptcy of developers, conducted an analysis of the novels and the current judicial practice with the participation of banks. Lawyers of the bankruptcy practice told about the requirements to special parties, participating in the bankruptcy proceedings of developers, the procedure for initiating relevant cases, interim measures, potential claims of creditors and other persons in the bankruptcy case of the developer. The lawyers also paid attention to the issues related to the implementation of the pledge, the order of satisfaction of creditors' claims and the future of the construction project.
Concluding the seminar, managing partner Artem Kukin summed up the current results of the reform, outlined the controversial issues that were not covered by the new legislative regulation, proposed ways to resolve them. Artem Kukin noted that the changes faced by developers are significant and important for the future organization of their activities. "We continue monitoring the application of new rules and the development of judicial practice," - the partner said.
INFRALEX is a team of professionals who solve non-standard and complex business problems in the interests of owners, beneficiaries and managers of Russian and foreign companies, Russian state bodies and organizations.
Unique expertise and project experience of INTRALEX is confirmed by international and Russian rating agencies, including Chambers and Partners, The Legal500 and Pravo-300.
Managing partner, advocate Artem Kukin and head of practice bankruptcy lawyer Stanislav Petrov are recommended by Best Lawyers. Artem Kukin is also recommended by The Legal 500 and Chambers&Partners as an expert in corporate law, dispute resolution and bankruptcy.