Lawyers Returned a Land Plot Accommodating a Refrigerator Warehouse and Building to Owners

The law firm’s lawyers proved invalidity of the transaction of purchase and sale of a land plot with an area of 20 thous. sq. m and a refrigerated warehouse with a total area of 7,5 thous. sq. m accommodated there, which allowed the owners to recover the property illegally alienated as a consequence of a corporate conflict.

In March 2014, IS-LAND and StroySoyuz’s majority shareholders, having received no reports from the General Director on the company’s financial and business activities, initiated the procedure for changing the General Director. Before the meeting, a number of transactions were made by ex-General Directors that led to the companies’ cessation of business operations. The Is-Land’s asset – the land plot in the Shushary village and the logistics complex located on it, consisting of the “Refrigerator Warehouse” building with an area of 7.5 thous. sq.m and the office and amenity building were sold to OOO UK StroySoyuz whose sole founder and shareholder was its ex-General Director.

In March 2015, the Court of Appeals ruled that the transaction with the land plot made by ex-Director and co-founder of OOO StroySoyuz was null and void and returned the alienated Is-Land refrigerator warehouse and the office and amenity building to StroySoyuz owners. The legal protection strategy developed by the law firm’s lawyers enabled them to prove that real estate items appear from the moment they are created, but not from the moment the related property rights are registered by the state. In the event of the alienation of a land plot, the rights shall also be transferred to all real estate items on it, which constitute an inseparable land plot improvement prior to the state registration of the rights on them. The transaction has been recognized as a large one by the court, made without the proper consent of the company’s shareholders and causing obvious damage. The project was supported by Osip Rumyantsev, Managing Partner of the Law Firm.