Nostroy is looking for a balance of interests of shareholders and developers
The National Association of Builders (NOSTROY) proposes to establish in the law on shared construction the priority of pre-trial elimination of defects in real estate. The shareholder will be able to go to court only if the developer has not eliminated the deficiencies on time, the president of the association Anton Glushkov told TASS.
“This proposal will allow maintaining the balance of interests of equity holders and developers, will reduce the level of interest in exclusively judicial settlement of disputes on the part of law firms, whose purpose is not to protect the interests of consumers, but to extract their own financial benefit”, said Anton Glushkov.
According to Glushkov, law firms often persuade equity holders to go to court immediately, preventing the developer from eliminating deficiencies at their own expense and within a reasonable time frame. “Taking into account the length of the court settlement of disputes, there is a delay in the transfer of the object to the shareholder, additional costs not related to construction arise. Both sides are the losers”, said the President of NOSTROY.