Reports of a developer’s financial difficulties and a court decision declaring it insolvent are different events. Before choosing a remedy, verify the company details, case number and court decisions. Establish how the purchase was paid for, directly to the developer or through escrow, and which documents support your entitlement to the property.
Gather your purchase documents
Basis of the claim
The shared-construction participation agreement, appendices, amendments and assignment documents if the apartment was acquired from another participant.
Evidence of payment
Payment orders, bank statements, escrow records and mortgage documents. Check that the payer, amount and payment reference match.
Performance history
Correspondence about handover, notices, records, claims and earlier judgments. Identify disputed amounts and changes to the timetable separately.
Check how your claim is recorded
Do not assume that having a contract means all information has been correctly recorded in the proceedings. Compare the buyer, property, payment and claim details with the case documents and the insolvency practitioner’s notices. If they differ, establish how to correct them and the relevant deadlines, and retain proof of submission.
Finding information about remedies
Russia’s Territorial Development Fund publishes information for affected homebuyers, including claim-checking services and project updates. Whether the route involves completing construction or making a payment depends on the decision for the particular project and the participant’s circumstances.
Do not apply news about a neighbouring development to your own contract. Check the exact project, building and developer. Purchase terms, construction progress and payment arrangements may differ even between similarly named developments. If a mortgage is involved, review the position with the bank separately: the developer dispute and the loan agreement each need their own assessment.
To discuss your documents, use our contact form and provide the developer’s name, case number and a brief description of the situation.
An initial review should establish the project’s status, the position of your claim, the documents available and the next steps. Promising an apartment or compensation before reviewing the contract would be premature.