BY OLEG MAMONT, HEAD OF CONSTRUCTION AND REAL ESTATE, A.T. LEGAL, on how to terminate relations with an unscrupulous contractor and minimize risks if he is on the verge of bankruptcy, what sanctions can be applied to him and what to do, the ways to formalize the termination of relations with a faulty contractor and apply sanctions to him, special grounds for challenging debtor transactions and recommendations for minimizing risks when contractors are threatened with bankruptcy, and the application of developer bankruptcy rules to debtors.
The current state of the construction industry can only cause concern for both the developers themselves and their clients. Restrictive measures taken by the government in connection with the COVID-19 are expected to lead to an increase in the number of bankruptcies of construction companies. Therefore, it is important for customers to know the algorithm of actions that will help keep property losses to a minimum if your contractor goes bankrupt.
You can read more about practical recommendations, the author's opinion and case studies here https://www.elibrary.ru/item.asp?id=46709535
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