Dispute over the sale of the “Petroholod” plant territory reached arbitration

The PSK Group and “Svinyin and Partners” dispute over the terms of the acquisition of the former “Petroholod” plant territory. The developer demands the judicial completion of the transaction for the sale of a company that owns 6.5 hectares of land near the Lesnaya metro station. The parties are considering the possibility of resolving the conflict, for now the lawsuit remains in force.

According to Marina Tokmakova, Head of Real Estate and Tax Practice of Duvernoix Legal, the filing of a lawsuit and the recent conclusion of a pledge agreement may indicate an attempt to complicate access to a land plot to third parties. This may be a strategy to protect assets, especially considering that “Specialized Developer “Polyustrovsky 87” is the predecessor of JSC “Petroholod”, and limitation periods have become almost endless.