The Chairman of the Board of Capital Group, Pavel Tyo has met with the former equity holders of the SU-155 shared residential construction project at 11A Bochkova Street in Moscow.
At the meeting, Pavel Tyo reaffirmed the Group’s commitment to fulfill SU-155's obligations to the shareholders that will be individually managed by the new Conciliatory Commission as part of its operations. The Commission includes representatives of Capital Group and an initiative group representing the interests of the shared construction partners.
During the meeting with the initiative group, it was decided that a document laying down Capital Group’s guarantees to the construction participants will be signed before any equity construction agreements are formalized.
Capital Group is also willing to consider providing defrauded co-investors with residences in its other project, in place of the apartments in the Kalibrovsky Factory project.
Capital Group has won the tender to purchase the leasehold of the plot of land located at 11A Bochkova Street, Moscow. The cost of the lot was 1.2 billion rubles. Although the terms of the tender do not stipulate any formal or legal obligations to the shareholders, Capital Group has voluntarily committed to fulfill the obligations of the previous investor.
