On April 24, 2019, the German Center for Industry and Trade held the conference “Investing in Real Estate: New Mechanisms and Industry Challenges 2019.” Speakers representing ALTHAUS Group, ALTHAUS Legal, ALTDFK, and ALT Litigation reported on the current situation in the construction and development industries. Over 50 participants joined the conference, including developers, management companies, banks, and private investors.
“Over the past three years, we have completed a large number of comprehensive projects in this area, thus gaining extensive experience we would like to share,” said Rostislav Shatenok, Managing Partner of ALTHAUS Group. “During the conference, we presented all of the company’s practices, which helped see the subject from different perspectives.”
The lawyers from ALTHAUS Legal, for instance, reviewed legislative changes to the shared-equity construction, spoke about the problems related to urban planning, pointed out the potential legal risks for the redevelopment of industrial areas, and touched upon the interesting topic of architectural projects as subjects of intellectual property.
As part of the “Risk management: comprehensive expert assessment in development” section, experts from ALTHAUS Group covered the aspects of engineering due diligence as well as investment property and presented cases of legal and tax due diligence in construction and development. Conference members also discussed the mechanisms of project financing in construction and escrow accounts.
At the end of the conference, the Managing Partner of ALT Litigation Andrey Bazhan analyzed the problem of subsidiary liability of developer’s controllers and cited interesting legal precedents from the industry.
“The event was very informative,” said the conference moderator, ALTHAUS Legal’s Partner Ilya Smirnov. “We tried to present the most useful, practical content.” “I hope we will hold another conference on this subject in the future and include some new cases that would be important and interesting from the market point of view,” said Ilya.