In course of refurbishment of a building in the city centre the developer enticed investors which were to obtain ownership of several high end apartments in this facility after the project completion. Rightmark Group represented interests of these investors. The developer missed the facility completion deadline, and thus had to pay to investors significant penalties under the relevant contracts. Investors set the penalties off against the last payments under investment contracts. As a result, the developer, in order to cause harm to the investors, registered a title to the disputed facilities in its favour. Investors filed a court action for cancellation of the developer’s title and declaration of their title to the apartments. Courts of three instances satisfied their claims, thus protecting the violated right of our client.
Later on, the developer filed several claims for recovery of costs for maintenance of the disputed facilities (utilities, security, etc.). The asserted claims applied to exactly those periods during which the developer unlawfully owned the apartments and had to bear the relevant maintenance and operation costs. Courts of first instance satisfied the developer claims in three different cases in full. However, higher courts revoked three unlawful court decisions, stating that the developer had violated the contract terms. First judgments in all three cases were overturned, and unlawful claims of the developer were dismissed entirely.