The participants discussed the amendments to the Federal Law No. 214-FZ оn Participation in Co-Funded Construction of Apartment Buildings and Other Properties and on Amendments to Related Federal Legislation, and to the Federal Law on Insurance Business that will take effect in 2014.
Igor Chumachenko , partner and head of the Real Estate, Land & Construction Practice at VEGAS LEX, spoke at the meeting. His presentation, Ensuring Fulfillment of Developers’ Commitments in Co-Funded Construction Projects: Legal Aspects of Investor Relations in Connection with Planned Changes to Federal Law No. 214-FZ, covered the existing ways to ensure that the developer fulfils the commitments to future apartment owners co-investing in the construction as well as the key changes that can be expected due to the planned change in legislation. Chumachenko discussed the upcoming changes in the guarantee arrangements and developer liability insurance in co-funded construction projects, and expanded on several aspects of the parties’ relationships after the changes in legislation take effect.
The discussion was attended by representatives of major businesses, banks, insurance companies, and public associations.
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