PROTESTS OF THE INVESTORS!

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29.05.2020
On May 29, 2020, a large-scale protest of investors of the residential complexes "PARTIOTYKA", "EVRYKA" and "PATRIOTIKA ON THE LAKES" took place in the center of Kyiv. More than a thousand people, using their right to peaceful protest, took to the streets of the capital to draw the attention of central and local authorities to the problems surrounding the construction of their apartments, in the construction of which they invested their money.
 
Today, 38 houses are under construction in 3 residential complexes, the investors of which are about 13 thousand families.

The protest action began near the building of the bank "ARCADA", which is the administrator of funds of investors in the construction of residential complexes "PARTIOTYKA", "EVRYKA" and "PATRIOTYKA ON THE LAKES".  Kovalchuk T.M., Chairman of the Management Board of JSCB ARCADA, approached the investors and assured that the bank and the developer partners are ready to complete the construction of the houses and hand over the keys to the apartments to the principals. However, she stressed that the NBU and the Kyiv City State Administration, which are directly involved in the current situation, must fulfill their part of the obligations.

The culmination of a large-scale protest, which also took place near the walls of the President`s Office, Cabinet of Ministers Office and Kyiv City State Administration, was an emergency meeting in the city administration, with the participation of Kyiv Mayor  Klitschko V.V., Deputy Minister of Internal Affairs of Ukraine A. Yu. Gerashchenko, President of JSCB " ARCADA ”Palyvoda K.V., Chairman of the Board of JSCB“ ARCADA ”Kovalchuk T.M., as well as the management of the Kyiv City State Administration and the initiative group of investors.

During this meeting, the parties discussed in detail aspects of the problem that led to the gradual cessation of construction of residential complexes "PARTIOTYKA", "EVRYKA" and "PATRIOTYKA ON THE LAKES" and voiced their positions and solutions.

In particular, the Chairman of the Board of JSCB "ARCADA" Kovalchuk T.M. outlined a number of issues that are important for resolving the situation and resuming full-scale construction:

1. To find an opportunity for voluntary execution of the decision of the Commercial Court of Kyiv dated October 9, 2019. in case №910 / 7707/19, which decided to recover from the budget of Kyiv in favor of LLC "Budevolyutsiya" reimbursement of the difference between the costs of construction of utilities and the amount of equity participation in the amount of 365 196 557,86 UAH at the expense of the budget of the city of Kyiv, as well as the amount of court fees paid by LLC "Budevolyutsiya".

2. To provide an opportunity for JSCB ARCADA to attract deposits and attract funds to the CFF from the sale of investment objects in construction projects, the sale of which has not started.

3. To extend the validity of land lease agreements (cadastral numbers 8 000 000 000: 96: 001: 0008; 8 000 000 000: 96: 001: 0009; 8 000 000 000: 96: 001: 0010; 8 000 000 000: 96: 001: 0011; 8 000 000 000: 96: 001: 0013), located in Osokorky-Tsentralny railway station of Darnytskyi administrative district of Kyiv for a period of 15 (fifteen) years without changing the amount of rent.

4. To change the excessive technical conditions issued to the developer for the construction of six lanes of the road on the street. Kolektorna ("PATRIOTYKA ON THE LAKES") and regarding the expansion of the gap adjacent to the construction site, st. Lomonosov road to four lanes followed by two.

5. Controlled utility companies and structural subdivisions of the Kyiv City State Administration should terminate the policy of double standards in relation to developers of the residential complexes "PATRIOTYKA", "PATRIOTYKA ON THE LAKES", "EVRYKA" and provide an opportunity to carry out construction without artificial obstacles, as well as to provide property of technically serviceable engineering networks.

At the same time, it should be noted that the management of ARCADA Bank for the first time had the opportunity to publicly state the reasons that negatively affected the timing and processes of construction work at all sites and voiced specific facts, pointing to individuals and authorities that caused the current situation.

Summing up the meeting, Deputy Minister of Internal Affairs of Ukraine A. Yu. Gerashchenko stressed that the investors of ARCADA Bank can in no way be compared with the problematic unfinished projects of Wojciechowski and Elita-Center, because there is a construction history, legal land and documents , as well as the bank and the developer, who do not waive their obligations. And so, according to Anton Gerashchenko, the Ministry of Internal Affairs of Ukraine, expressed its readiness, if necessary, to study all the facts, giving them a legal assessment. However, he hopes that the parties will reach a path of understanding in order to resume work on the construction sites of the residential complexes "PARTIOTYKA", "EVRYKA" and "PATRIOTYKA ON THE LAKES". At the same time, the Deputy Minister assured that the Ministry of Internal Affairs of Ukraine is ready to become a "security umbrella" so that 30,000 Ukrainians can get their homes as soon as possible.