The firm represented a client who had previously entered into an agreement to purchase a land plot for construction of an apartment building. The agreement was subject to strict terms and conditions for the buyer, and was secured by a pledge, a deposit, a forfeit, and other financial instruments.
The client was unable to pay the balance of the purchase price of the land plot, which remained pledged to the seller.
The firm developed a plan for an amicable settlement of the conflict and offered the seller an opportunity to terminate the sales and purchase agreement, accept property from the buyer, and retain the previously received deposit.
The seller avoided terminating the agreement and protracted the settlement negotiations to build up a contractual penalty, which amounted to 350K RUB per day.
The project required the firm to participate in more than 80 court hearings in arbitration courts and courts of general jurisdiction in 4 regions of the country.
The court found that the seller's conduct was in bad faith. The case ended with a settlement agreement, the terms of which ruled out any economic losses for our client and allowed them to easily walk away from an onerous transaction. The firm's actions helped the client save over 200 million RUB.