Bankruptcy of Urban Group. What should shareholders do? Residential complex "Vidny Gorod" is frozen. Urban Group bankruptcy? We save our real estate from inclusion in the bankruptcy estate of the developer’s debtor
On Monday, July 9, the Arbitration Court of the Moscow Region considered bankruptcy cases of five companies that are part of the Urban Group.
During the first hearing, the court declared bankrupt the developer of the Vidny Gorod residential complex, the Vash Gorod company, owned by Urban Group, and during the second, Ivastroy LLC, the developer of the City Event Laikovo residential complex.
It was previously reported that the Fund for the Protection of the Rights of Citizens-Private Shared Construction, based on the results of an audit of Urban Group, decided to use the bankruptcy mechanism. The corresponding lawsuits were filed on June 9 against the companies Ecokvartal (builds and sells apartments in the Mitino O2 residential complex), Your City (Vidny Gorod residential complex), Continent Project (Solar System residential complex), Highgate "(residential complex "Opalikha O3" and "Lesoberezhny"), "Ivastroy" (residential complex "City Event "Laikovo").
The non-profit Fund for the Protection of the Rights of Citizens-Private Shared Construction was created on the basis of AHML on behalf of the Government of the Russian Federation and began its work in October 2017. Developers list in it 1,2% from the cost of each share participation agreement (this applies to objects for which construction permission was received after October 27 last year). The scenario for completing the construction of Urban Group facilities at the expense of the fund, if implemented, will be the first such case.
During the court hearing, a representative of the fund assessed the amount of funds needed to complete the construction of the residential complex “City Event “Laikovo”, in 3 billion rubles.
The fund won't have enough money
As of February 2018, the fund received 180 million rubles. It is obvious that this money will not be enough to complete the construction of even a small part of the facilities. According to experts, to complete the facilities, the fund will be additionally capitalized at the expense of taxpayers. Officials will feed billions to Governor Vorobyov’s “construction pyramid”.
30 thousand residents to save 100 SU-155 shareholders
The residential complex “City Event “Laikovo” was built by Urban Group on a land plot of 116.84 ha. The developer received it as a result of the bankruptcy of the SU-155 company, which began building the Like City residential complex here. Urban Group volunteered to save 100 shareholders by building a city on 30 thousand people. The company intended to build 1.75 million m2, of which apartments - 875 thousand m 2. The project involves construction 62 apartment buildings And 11 townhouses.
The court canceled the general plan and the land use zone permitting the construction
Residents of the village of Laikovo were categorically against such construction. But Urban Group organized public hearings with the participation of professional actors. The opinion of the residents was ignored by the government of Governor Vorobyov. Laikovo members also wrote to the President. But it’s deaf there too!
In their struggle against the predatory development of the rural field, residents reached the Supreme Court, where they challenged the decision of the deputies to approve the master plan and the environmental protection zone of the village of Laikova.
But even after this, neither Urban Group nor the authorities serving its interests were in a hurry to implement the court’s decisions. Governor Vorobyov does not give up attempts to build a monster city in the village of Laikovo against the will of its inhabitants.
City event Laikovo construction stopped, shooting date 06/07/2018
Authorities encourage risk taking
Over the years, authorities have shown that investments in even the most risky construction projects are worthwhile. Never before in the history of modern Russia have shareholders lost their invested funds. On the contrary, families who behave carefully and prudently in the real estate market constantly suffer from decisions made by officials: allowing number of floors in excess of the maximum permissible 17 floors and building density, as well as the abolition of social burdens. As a result, there are not enough roads, parking lots, schools, kindergartens and clinics. All this is the result of the greed of developers and officials and deputies lobbying their interests.
How to solve the problem of defrauded shareholders?
Over the long 14 years of validity of 214-FZ, if the developer is declared bankrupt, then his property will be sold, while the right to the premises will be preserved. This is true not only for non-residential premises (storage rooms, parking spaces, apartments), but also in some cases for apartments.
“Double sales” may pop up. Bankruptcy is not always a fair and transparent procedure. In our practice, there have been cases when the developer “lost” the real register of contracts, and then some strange new and new contracts with dummies surfaced
The land on which Urban Group built is pledged to banks. It is well known that banks will never miss their chance. Moreover, according to 214-FZ, secured creditors have the right to 60% of the debtor’s property
Recognition of the shareholder's right of ownershipand a share in the form of an apartment, apartments, storage room, parking space in an unfinished construction project will allow you to secure priority over the property over banks, contractors and insurance companies.
When disputes arise, a court decision obliges the courts (including the arbitration court) to accept the facts established in them as not requiring proof.
Should shareholders unite into initiative groups? Can this speed up the process?
This is the legal right of every citizen, although members of initiative groups do not receive any advantages over other shareholders. However, as practice shows, in such cases, the more actively citizens defend their rights, the more effectively their issue is resolved.
The Fund for the Protection of the Rights of Citizens - Participants in Shared-Share Construction held two meetings last month with representatives of initiative groups of shareholders - on June 4 and 18. In the future, such meetings are planned to be held on an ongoing basis.
Who will complete the construction of Urban Group houses and in what time frame?
The mechanism for completing the construction of objects, including a new developer, will be determined after the introduction of bankruptcy proceedings against the developer.
Financing of the construction of all Urban Group facilities (including those where no contributions were made to the Fund) will come from the federal and regional budgets, as well as from the Fund. The amount of funds required will be known based on the results of the audit. Then the degree of readiness of the houses will become known.
What should we do for those whose house has already been rented out, but has not been transferred to the shareholder?
In this case, you need to collect all the documents confirming the existence, registration and payment of the contract, wait for the appointment of a bankruptcy trustee and submit to him, along with the documents, a request for recognition of your ownership of the residential premises. We are waiting for the bankruptcy court hearing and participating in the hearings. The court's ruling will become the basis for Rosreestr to register your property rights.
Another option - with the same documents we take part in a meeting of participants in shared construction, which is held by the bankruptcy trustee, no earlier than 6 months from the date of the start of the period for the presentation of demands by construction participants for inclusion in the register of creditors. The manager will take the results of the meeting and voting to court. We are awaiting a ruling from the Arbitration Court to satisfy the manager’s petition based on the voting results, on the basis of which we register the ownership.
What should those who terminated the contract with Urban Group, but did not manage to return the money, do?
Termination of the contract entails the termination of obligations for the future and does not deprive the creditor of the right to demand from the debtor the amounts of the principal debt and property sanctions accumulated before the termination of the contract in connection with non-fulfillment or improper performance of the contract. Thus, from the moment the construction participant terminates the agreement on shared participation in construction, the developer’s obligation to transfer, upon completion of the construction of an apartment building, the corresponding residential premises that was the object of the agreement ceases. So in such a situation, you need to wait for the appointment of a bankruptcy trustee and collect a package of documents to submit to him confirming the termination of the contract (an inventory and a receipt for sending a registered letter).
What should an Urban Group shareholder do who has paid for his or her DDU but has not had time to register it?
In this situation, you also need to wait for the appointment of a bankruptcy trustee and prepare the following documents for filing:
A copy of the equity participation agreement with appendices and additional agreements;
A copy of the passport - the first page with registration (if there is no registration, this is not critical);
Other documents, for example, confirming the transfer of documents for registration to the bodies of Rosreestr, responses from Rosreestr, and so on.
After the appointment of a bankruptcy trustee, we contact him with an application for inclusion in the register of requirements for the transfer of residential premises.
What should an Urban Group shareholder who has already registered his share participation agreement do?
If your equity participation agreement (EPA) has been fully or partially paid and registered, at this stage you need to wait for the appointment of a bankruptcy trustee. At the same time, you can start collecting a package of documents:
A copy of the equity participation agreement (with a registration mark from Rosreestr, if available) with appendices and additional agreements;
Payment documents confirming payment of the contract (payment orders with confirmation of execution, transfer applications, stamped bank checks, payment documents transferring funds from the letter of credit account to the developer’s account);
A copy of the passport - the first page with registration (if there is no registration, this is not critical).
We contact the bankruptcy trustee, when he is appointed, with a free-form application for inclusion in the register of demands for the transfer of residential premises with a description of the current situation.
How many Urban Group structures will go bankrupt? Have lawsuits been filed, and who will initiate them?
Based on the results of an inspection of the Moscow region developer Urban Group, a decision was made to use the bankruptcy mechanism to protect the rights and interests of citizens who bought apartments in the developer’s properties. In this regard, on June 9, the Fund filed claims for bankruptcy of five development companies of the group with the Arbitration Court of the Moscow Region.
Applications were filed in relation to the companies Ecokvartal LLC (constructing the Mitino O2 residential complex), Vash Gorod LLC (constructing the Vidny Gorod residential complex), Continent Project JSC (constructing the Solar System residential complex), LLC "Highgate" (carrying out the construction of the residential complex "Opalikha O3" and the residential complex "Lesoberezhny"), LLC "Ivastroy" (carrying out the construction of the residential complex "Laikovo"). The basis for filing applications was the signs of insolvency and insufficient property of these companies identified during the audit.
At present, the bankruptcy procedure has not yet been introduced. The claims are pending in court. The degree of readiness of the houses will also become clear after completing the full inspection procedure. The main stage of the audit has now been completed. The audit results were submitted to the Ministry of Construction for consideration. Work continues.
Is there a separate action plan for the former SU-155 co-investors in the Laikovo project?
The Laikovo facilities will be completed in parallel with other Urban Group facilities. All facilities will be completed according to project documentation.
On July 9, 2018, judge of the Arbitration Court of the Moscow Region M.V. Kozlova. decided to bankrupt the Urban Group group of companies.
The decision on bankruptcy was made in relation to 5 companies - developers included in the Urban Group of companies:
*Ekokvartal LLC is the developer of the residential complex “City – Mitino O2 Resort”;
*Vash Gorod LLC is the developer of the Vidny Gorod residential complex;
*Highgate LLC is the developer of the Opalikha O3 residential complex and Lesoberezhny residential complex;
*Ivastroy LLC is the developer of the Laikovo residential complex;
*Kontinent Project JSC is the developer of the Solar System residential complex.
*Ekokvartal LLC (constructing the residential complex “City – Mitino O2 Resort”),
A court hearing to consider the application to declare Urban Group bankrupt was scheduled for July 9, 2018 in the Arbitration Court of the Moscow Region.
On July 9, 2018, the Arbitration Court of the Moscow Region, according to TASS, declared Vash Gorod LLC bankrupt; by court decision, bankruptcy proceedings were opened against the developer for a period of one year - until July 9, 2019.
The candidacy of an arbitration manager was proposed to the court for approval, Svetlana Anatolyevna Aglinishkene, who is a member of the Union of Arbitration Managers "Self-regulatory organization "Northern Capital" (address: 194100, St. Petersburg, Novolitovskaya St., 15, letter A, room 318-320 By a court decision, a representative of the Union of Arbitration Managers “Self-regulatory organization “Northern Capital” was appointed as a bankruptcy trustee.
Information on the beginning of the introduction of bankruptcy proceedings (competitive proceedings) and the appointment of a bankruptcy trustee in relation to the developer JSC "Continent Park" residential complex "Solnechnaya Sistema", the developer LLC "Ekokvartal" residential complex "City - Resort Mitino O2", the developer LLC "Vash Gorod" residential complex " Prominent City", the developer of Highgate LLC, the Opalikha O3 residential complex and the Lesoberezhny residential complex, the developer of Ivastroy LLC, the Laikovo residential complex will be posted on the website of the Arbitration Court of the Moscow Region, in the bankruptcy case of the developer, and a message about this will be published in the Kommersant newspaper in the bankruptcy section and on the website bankrot.fedresurs.ru.
What measures should Urban Group equity holders take after the commencement of bankruptcy proceedings, the procedure for residential property equity holders.
Shareholders of residential premises have the right to submit an application for inclusion of their claims in the register of claims for the transfer of residential premises. As a result of the inclusion of the shareholder’s claims in the register of claims of residential premises, the shared construction object (apartment) is excluded from the money supply of the debtor - the developer.
If the house is transferred to a new developer and completed, the new developer, after completion of construction, will be obliged to transfer the apartment to all shareholders included in the register of claims of residential premises.
In most cases, this is the only opportunity for the shareholder to save his invested funds and obtain housing, since, based on the established practice of bankruptcy cases, the debtor’s money supply, as a rule, is not enough for all his creditors.
Within 90 days from the date of introduction of the bankruptcy procedure, it is necessary to submit an application to the bankruptcy trustee and the Arbitration Court of the Moscow Region for inclusion in the register of claims for residential premises.
Procedure for shareholders of non-residential premises (storage rooms, parking spaces, non-residential commercial areas).
Shareholders of non-residential premises (storage rooms, parking spaces, non-residential utility areas) who have currently filed a claim in a court of general jurisdiction for recognition of ownership of an unfinished construction project must obtain a court decision, send a copy of the decision to the bankruptcy trustee for information and wait completion of construction of the preschool facility.
Shareholders of non-residential premises (storage rooms, parking spaces, non-residential utility areas) who have not filed a claim in court for recognition of ownership of non-residential premises, after the introduction of bankruptcy proceedings against the Urban Group, have the right to submit only an application to include their claims in register of creditors of the bankrupt developer and have the right to monetary claims against the developer.
Also, measures can be taken to recognize the shareholder of non-residential premises as a secured creditor, which guarantees greater protection of rights when selling the debtor’s property.
Our lawyers have developed sample applications for inclusion in the register of creditors' claims for each residential complex of the residential complex "Solar Systems", the residential complex "City - Mitino O2 Resort", the residential complex "Vidny Gorod", the residential complex "Opalikha O3" and the residential complex "Lesoberezhny", the residential complex "Laikovo" “If you need a sample application, fill out the form, indicate your residential complex and we will send you a sample application - free of charge.
If you need legal advice on the procedure for filing an application for inclusion in the register of residential premises requirements, request a call back, a lawyer will contact you shortly!
Legal advice to equity holders of Urban Group (JSC Continent Park, residential complex Solar Systems, LLC Ecokvartal, residential complex Gorod - Mitino Resort O2, LLC Vash Gorod, residential complex Vidny Gorod, LLC Highgate residential complex Opalikha O3 and residential complex "Lesoberezhny", LLC "Ivastroy") are carried out free of charge.
For legal assistance, call tel. 8 916 323 58 58 and 8 495 908 89 97 or request a call back.
www.ur-expert77.ru
The court arrested the former CEO of Urban Group
Home » News » The court arrested the former CEO of Urban Group
From respected media
The former general director of Urban Group and Ivastroya, Andrei Puchkov, was arrested by the court and is charged with abuse of power, leading to grave consequences. The media linked the case against Puchkov with the unfinished Laikovo residential complex
The Savyolovsky Court of Moscow arrested Urban Group top manager Andrei Puchkov. TASS reports this with reference to the court file. Puchkov was the general director of the Urban Group, as well as the Ivastroy company that was part of it.
According to TASS, Puchkov was taken into custody on charges of abuse of power resulting in grave consequences (Part 2 of Article 201 of the Criminal Code of the Russian Federation). The maximum penalty under this article is ten years in prison. The court database contains a case file against A.V. Puchkov. - the same initials of the former CEO of Urban Group. According to SPARK, Puchkov left the post of general director of Ivastroy and Urban Group in April 2018.
A criminal case was initiated against the management of Ivastroy precisely under Part 2 of Art. 201 of the Criminal Code of the Russian Federation, the Kommersant newspaper previously reported, citing sources. The publication named Puchkov as one of the defendants in the case. The offices of Ivastroy and Urban Group have already been searched in connection with this case.
According to investigators, the suspects exceeded their authority when collecting funds for the construction of the Laikovo residential complex, which was not completed. The newspaper wrote that the reason for initiating the case, in addition to the statements of the shareholders, could have been a complaint from the main owner of the Urban Group, Alexander Dolgin. According to the SPARK database, Puchkov remains a minority shareholder of the developer with a 5% stake.
In June, the Fund for the Protection of Shared Construction Participants filed a bankruptcy claim for all five companies. members of the Urban Group, the arbitration court satisfied it in July. Dolgin himself linked the group’s problems with Laikovo.
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The court declared bankrupt the third of the five companies of the Urban Group "Ekokvartal" - Economics and business
© Vedyashkin Sergey/AGN "Moscow"
MOSCOW, July 9. /TASS/. The Arbitration Court of the Moscow Region declared the third of the five Urban Group companies, Ecokvartal, bankrupt, a TASS correspondent reports from the courtroom.
“The court decided to recognize the application of a public legal company to protect the rights of citizens participating in shared construction as justified. To recognize Ecokvartal LLC as insolvent,” said Judge Maria Kozlova.
The court also decided to open bankruptcy proceedings for a period of one year.
The Ecokvartal company is part of the Urban Group and is constructing the Mitino O2 residential complex. The residential complex is located in the Moscow region in the area of Pyatnitskoye Highway and near the village of Saburovo, according to the project website. The residential complex includes 15 houses of varying levels of floors.
The Arbitration Court of the Moscow Region on Monday is considering bankruptcy claims against five legal entities that form the Urban Group group of companies. Previously, two of them were declared insolvent - “Ivastroy” and “Your City”. The Fund for the Protection of the Rights of Citizens - Participants in Shared Construction, based on the results of an audit of the Urban Group, decided to use the bankruptcy mechanism as the only possible one for the speedy completion of objects and the transfer of their apartments to shareholders.
The mechanism allows, among other things, to consider the possibility of attracting a new developer with the necessary construction experience to complete the construction of objects. If the Urban Group developer companies are declared bankrupt, construction financing will be resumed within 2-3 months using the resources of the Fund for the Protection of the Rights of Citizens Participating in Shared Construction.
News smi2.ru
News smi2.ru
tass.ru
The court declared the second company Urban Group bankrupt
MOSCOW, July 9. /TASS/. The Arbitration Court of the Moscow Region declared bankrupt the second of the five companies of the Urban Group - Ivastroy, which is the developer of the Laikovo residential complex (LC), a TASS correspondent reports from the courtroom.
“The court decided to recognize the application of a public law company to protect the rights of citizens participating in shared-equity construction as justified. Recognize Ivastroy LLC as insolvent bankrupt,” said Judge Maria Kozlova. The court also decided to open bankruptcy proceedings for a period of one year.
The Arbitration Court of the Moscow Region on Monday considered bankruptcy cases of five companies that are part of the developer Urban Group. During the first hearing, the court declared bankrupt the developer of the Vidny Gorod residential complex, the Vash Gorod company, owned by the Urban Group. The court also decided to open bankruptcy proceedings for a period of one year.
Earlier it was reported that the Fund for the Protection of the Rights of Citizens Participating in Shared Construction, following an inspection of the Moscow region developer Urban Group, decided to use the bankruptcy mechanism. The corresponding lawsuits were filed on June 9 against the companies “Ekokvartal” (carrying out the construction of the residential complex “Mitino O2”), “Your City” (residential complex “Vidny Gorod”), “Continent Project” (residential complex “Solar System”), “Highgate” (residential complex “Opalikha O3” and “Lesoberezhny”), “Ivastroy” (residential complex “Laikovo”).
The Laikovo residential complex was designed by Urban Group on the site of the Like City residential complex, which the SU-155 company intended to build. The area of the site on which it is planned to build a residential complex is 116.84 hectares. The developer intended to build 1.75 million square meters on this site. m of real estate, of which 875 thousand sq. m. will be apartments. m. The project involves the construction of 62 apartment buildings and 11 townhouses.
gazeta-margust.ru
The Ministry of Construction explained the procedure for Urban Group shareholders after the company's bankruptcy - Economics and business
MOSCOW, July 11. /TASS/. Urban Group shareholders have the right to enter the register of claims for the transfer of residential premises in accordance with bankruptcy laws. The bankruptcy trustee sends a corresponding notification to participants in shared construction, the Ministry of Construction and Housing and Communal Services of Russia told TASS.
“The head of the developer, within ten calendar days from the date of approval of the bankruptcy manager, is obliged to ensure the transfer of information about all construction participants to the bankruptcy manager. The bankruptcy manager, within five days from the date of receipt of information from the head of the developer, notifies all identified construction participants,” the message says.
Bankruptcy proceedings against five companies that are part of the Urban Group were ordered by the court on July 9, 2018, TASS previously reported. Svetlana Aglinishkene, a member of the Northern Capital Union of Arbitration Managers, has been appointed as the bankruptcy trustee for all of the group’s properties, according to the arbitration website.
“The use of the mechanisms of the bankruptcy procedure provided for by the current legislation will make it possible to resume construction of facilities of the Urban Group group of companies in the shortest possible time and satisfy the requirements of participants in shared construction,” the ministry noted.
Terms and mechanism of bankruptcy
The notification to shareholders must contain information about the opening of bankruptcy proceedings and the possibility of filing claims for the transfer of residential premises and monetary claims and the deadline for submitting such claims, the ministry’s response says. The register of creditors' claims must be closed after three months from the date of publication of information on declaring the debtor bankrupt and on the opening of bankruptcy proceedings, the Ministry of Construction also indicates. However, if the deadline is missed for a good reason, it can be restored by the arbitration court. After being included in the register, shareholders have the right to participate with voting rights in meetings of construction participants, as well as in meetings of creditors.
The register of claims for the transfer of residential premises is part of the register of creditors' claims, explained TASS Alexander Bolomatov, partner at the YUST law firm. The bankruptcy law has a special paragraph on the bankruptcy of developers, which gives priority to the claims of participants in shared construction over the claims of other creditors, he pointed out. “This is not an ordinary entry into the register, which essentially provides for a full-fledged court hearing, everything is done here simply. In this case, bankruptcy is a mechanism that actually allows you to softly transfer shareholders with objects to another developer who can complete the construction,” said lawyer.
About the process
On June 9, the Arbitration Court of the Moscow Region declared insolvent five companies that are part of the Moscow Region developer Urban Group following a claim by the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction. The developers "Ekokvartal" (residential complex "Mitino O2"), "Your City" (residential complex "Vidny Gorod"), "Continent Project" (residential complex "Solar System"), "Highgate" (residential complex "Opalikha O3" and residential complex) were declared bankrupt "Lesoberezhny"), "Ivastroy" (residential complex "Laikovo"). During the court hearings, the applicant’s side argued about major financial irregularities in the company.
Earlier it was reported that the Fund decided to use the bankruptcy mechanism based on the results of a financial audit of the Urban Group, as the only possible way for the speedy completion of the company’s facilities and the transfer of their apartments to shareholders.
The road map for the completion of problematic facilities will be approved by August 2018, the Ministry of Construction of the Moscow Region previously stated.
Urban Group is one of the largest housing developers in the Moscow region. On May 30, he announced the suspension of home sales due to an audit of the company. Construction of houses was also stopped. It was previously reported that Urban Group has obligations to 20 thousand shareholders.
tass.ru
A representative of the Shareholders Fund stated in court about the withdrawal of funds from Urban Group by the owner - Economics and business
MOSCOW, July 9. /TASS/. Funds from Urban Group shareholders were transferred to the personal accounts of the group’s beneficiaries, said a representative of the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction during a court hearing in the bankruptcy case of Vash Gorod LLC, which is part of the Urban Group.
“The audit revealed facts of misuse, including facts of withdrawal of funds in large amounts to the personal accounts of the group’s beneficiaries, including Mr. Dolgin,” said Fund representative Maria Mikheeva during the court hearing. The inspection was carried out by Glavgosstroynadzor, she said.
The Moscow Region Arbitration Court on Monday is considering bankruptcy claims against five legal entities that form the Urban Group group of companies, a TASS correspondent reports from the courtroom.
It was previously reported that the Fund for the Protection of the Rights of Citizens - Participants in Shared Construction, following an inspection of the Moscow Region developer Urban Group, decided to use the bankruptcy mechanism.
The corresponding claims were filed on June 9 against Ecokvartal LLC (constructing the Mitino O2 residential complex), Vash Gorod LLC (constructing the Vidny Gorod residential complex), Continent Project JSC (constructing the Solar System residential complex) , Highgate LLC (constructing the Opalikha O3 residential complex and Lesoberezhny residential complex), Ivastroy LLC (constructing the Laikovo residential complex).
