Press centre News

On September 7th, 2011, within the V International investment and estate forum PROEstate in St.Petersburg, VEGAS LEX legal firm organized the round table «Construction work: urgent issues».

More than 40 representatives from the real estate market: business owners, architects, designers, investment and construction companies, developers as well as the representatives of the federal authorities, regional administrations, investors, managing, consulting, law and insurance firms became the guests at the event.

Round table was developed with the building work in mind to encourage the dialog: 
Bank - Customer - Contractor - Lawyer - Court

The following topics were discussed:

• risks mitigation in structuring the relations between the participants;
• developer’s position;
  
• contractor’s position;
• role of the bank guarantees (tools); default guarantee problem;
• conflicts and dispute resolution between the parties;
• tendencies in dispute resolution in the state arbitration courts related to the general contract.

Igor Chumachenko, Head of Real Estate, Land and Construction Practice at VEGAS LEX was the moderator and leading speaker at the round table. Also its report about conflicts and adjudicate among Project participants building contract presented Kirill Truhanov, Head arbitration panel, VEGAS LEX.

Others speakers participated in the discussion: Vera Setskaya, President of GVA Sawyer; Andrey Vlasenko General director of Renaissance Construction; Raymond Fadel, Director of AECOM Russia; Oleg Barkov, General Director of Hans SPb Development.

Igor Chumachenko, Head of Real Estate, Land and Construction Practice at VEGAS LEX, agreed that the round table addressed many disputable questions, which are not even covered in specialized newspapers and magazines.

The participants and experts concurred that the event proved its effectiveness, because it served as a common base for all market players: general contractors, contractors, developers, consultants, banks etc.

The Program was closed by the state reception on behalf of St. Petersburg Governor, signifying the opening of PROEstate 2011 forum. Only the most respected players of the estate market were among the guests at the reception.

International Investment Forum PROEstate is the largest real estate event in the Central and Eastern Europe, which attracts the leaders of the industry from more than 30 countries of the world and 40 Russian regions.

For additional information is always available at VEGAS LEX press center.