Date: 5 months ago   Category: Economics

Banks were frightened of problems with shareholders


The Russian banks have told that they don't know how to treat the new law on shared-equity construction, and have addressed for explanation in Ministry of Construction, Kommersant writes. Credit institutions are afraid that they won't be able to pay off with shareholders in case of claims. According to the edition, the letter to the Minister of Construction, Housing and Utilities Vladimir Yakushev was sent by the Association of Banks of Russia (ABR). In him it is told about concern of credit institutions which don't know what to do with the builders who have got the construction license till July 1, 2018. After this date all developers are obliged to open special accounts in banks which will be able to control their operations and not to allow waste of money of shareholders. However this rule doesn't extend to projects which have been approved and have received all necessary documentation till July 1 on an old regime — on them partial control is allowed. Materials on teme00:01 — the Russian стройкаС Russians have collected on June 14 millions and have deprived of apartments. Who is guilty? What it consists in, banks don't understand, approves ABR. They don't know what transactions of builders to monitor and what to block. One more complexity is connected with the fact that provisions of the law on control don't extend to contractors with whom developers sign contracts with old permissions — they can hold usual accounts which won't be controlled at all. All this can lead to the fact that in case of problems at the builder on old projects banks won't be able to pay off with shareholders who under the law can submit to them claims for compensation of damage now. ABR asks Ministry of Construction and personally Yakushev as soon as possible to make accurate explanation. Also wait for instructions from the Central Bank. It is more than important news in Film of Day Telegram-channel. Subscribe!

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