FRT WANTS TO RECEIVE 31 BILLION RUBLES FROM THE BANKRUPT

The Territorial Development Fund (FRT) has shared its plans to collect debts from bankrupt developers. According to the head of the organization Konstantin Timofeev, the volume of claims has already exceeded 31 billion rubles. If they can be recovered, the rights of the affected shareholders will be restored.

The Foundation, as Timofeev notes, is trying to interact with the Prosecutor's office and the Ministry of Internal Affairs, systematically sending its applications and documents to various regions of the country. The first meeting of the FRT Supervisory Board was held at the end of 2019. Since then, decisions have been made regarding 109 thousand shareholders.

By the end of June 2022, criminal cases were initiated against a significant part of real estate developers (68.8%), whose facilities officially received the status of problematic (that is, they were included in the EPO). The foundation itself acts as a representative of the injured party in 66 criminal trials. In 56 criminal cases, he also has the procedural status of a civil plaintiff.

Timofeev hopes that by the end of 2022 the organization will be able to recover 1 billion rubles. Since a significant part of the developers' bank accounts have been emptied, the management of the FRT hopes to receive funds through the sale of property assets.

In a press release, it is reported that in the first half of 2022, investigators received 40 lawsuits from the fund, the total amount of financial claims in which is 20 billion. Four bankruptcy managers were brought to administrative responsibility on the initiative of the FRT. Rosreestr accuses them of committing illegal actions in the bankruptcy process.

Timofeev stressed that the foundation needs support from the prosecutor's office. In six months, law enforcement agencies have received 152 appeals from the FRT. The results of their consideration were three criminal cases related to major fraud. Possible damage from this could amount to 32 million rubles, but it was prevented.

FRT hopes to receive support from the Prosecutor's Office in monitoring the implementation of all planned activities. Regional funds often delay deadlines, which leads to failures in fulfilling obligations under roadmaps.