We know everything about bankruptcy
29/12/2024
Sunday
29 December 
1970 The 36-year civil war in Guatemala ended in reconciliation between the parties.
1970 Catherine II introduced paper money.
1970 Catherine II introduced paper money.
1970 The Russian Empire was divided into eight provinces by the decree of Peter I.
THE SUPREME COURT ORDERED THE AUTHORITIES TO PAY DAMAGES FOR ABANDONING THE INVESTMENT PROJECT
According to experts, the verdict of the Supreme Court, which supported the company in litigation with the authorities of the capital (the Government and the Department of City Property), may further qualitatively change the nature of relations between state bodies and private firms in this matter. The investor eventually got the opportunity to compensate for the costs caused by the termination of the contract through no fault of his own. In the future, officials will also take a more deliberate approach to resolving issues related to the suspension of investment contracts. After all, they will have to answer not only for the illegality of the decisions taken, but also for their lack of reasonableness.
The history of the relationship between "Valenta Development" and the Moscow City Hall began in March 2010. Then, at a price of 52 million rubles, the company acquired the rights and obligations for the construction of an administrative building on a plot of metropolitan land. The lease agreement was renegotiated by the authorities, but in 2012 something amazing happened in the state cadastre. The cadastral number of the land plot indicated in the contract has disappeared from the cadastre. At the same time, a new number appeared, indicating the territory of an identical area and within the same boundaries.
The company requested to issue a number change by an additional agreement to the contract, but was refused by the capital's officials. In response to a request for a GPZU (urban development plan for a land plot) submitted to the Moscow Architecture Department, the company also received a refusal. The company did not have the rights to lease a plot with a different number.
The metropolitan Arbitration Court in July 2017 recognized this decision of the authorities as correct. The Property Department terminated the contract, and a year and a half later, Moscow officials decided to completely stop the investment project. The company received notification of this in July 2020.
Representatives of the company tried to recover losses from the state through the court in the amount of rent (14.14 million) already paid for the plot (which unexpectedly disappeared from the cadastre). The firm also demanded compensation for expenses (52 million) related to the purchase of rights from the previous investor. However, the Moscow Arbitration Court, the appeal and the Moscow District Court were adamant in rejecting the claim. The judges considered the guilt of the Moscow authorities to be unproven, and they did not find any connection between the actions of the authorities and the company's losses.
"Valenta Development" appealed to the Supreme Court, demanding to understand the situation related to the inability to use the land due to the actions of the authorities. As a result, the economic board overturned the decisions of the lower instances, sending the case for a new hearing to the Moscow arbitration.
The judges decided that the investor should not take on the consequences of decisions that do not depend on him. It would be wrong to collect rent if it is impossible to use a plot of land due to the actions of the landlord (even if it is the state). In addition, the Supreme Court of the Russian Federation drew attention to the fact that in courts land plots with different cadastral numbers were considered as different objects, despite the fact that both sides in the dispute confirmed that they were talking about the same territory.
Photo by Freepik
