Konstantin Boytsov has provided his comments to RBC on changes to the rights of investors in commercial buildings

Konstantin Boytsov - Counsel

The Ministry of Construction and Dom.ru have prepared changes to legislation that will improve the rights of buyers and investors in the commercial property, providing them with compensation in the event that a property developer becomes insolvent. Previously the law provided such protection only to the buyers of residential property.

According to the Head of the Real Estate and Construction Practice at Maxima Legal, Konstantin Boytsov, the initiative requires that the federal law on insolvency/bankruptcy also be amended. “The changes should provide, in keeping with existing regulations, the creation of a register of claims for the transfer of non-residential premises”, explained Konstantin to RBC.

To read the full article of the text, please see the RBC website.