Sergei Bakeshin has provided his comments to RBC on a conflict around a construction site on Petrograd Island

Sergei Bakeshin - Counsel

Deputies from the Legislative Assembly of St Petersburg have found a new way to deal with the Akvilon-Invest holding, which plans to build a residential building on Lodeynopolskaya Street. Previously the deputies announced that the site on which the building is being built is a green zone. The Supreme Court overturned this decision and asked that the St Petersburg Governor check the legality of building the property.

According to the Head of the Dispute Resolution and Insolvency practice at Maxima Legal, Sergei Bakeshin, even if the deputies now do not have legal grounds to deal with the developer, they can interfere with the project. For example, by filing complaints at various instances that could lead to a delay in construction as well as complaints from equity holders and a rise in the cost of the project, explained Sergei to RBC Petersburg.

To read the full article (in Russian), please see the RBC Petersburg website >>>