The Land Law Firm team advised a large energy company on the acquisition of 1.2 thousand square meters of office real estate in the business center of the capital.
During the project, the lawyers conducted a comprehensive due diligence of the acquired real estate, and also prepared recommendations for the transaction, taking into account the special procedure for transactions with real estate of foreign persons from unfriendly states and the need to obtain mandatory permission from the Government Commission for Control over Foreign Investments in the Russian Federation.
The work of the Land Law Firm team on the transaction coincided with the adoption of new legislation governing the procedure for transactions involving residents of unfriendly countries, which required prompt analysis and development of new approaches to the transaction procedure in the absence of similar cases on the market.
In order to eliminate the risks of contesting the rights to the acquired real estate, lawyers carried out laborious work to restore operations with it, including analyzing a number of risky transactions involving a foreign company from offshore jurisdiction. Additionally, LLF lawyers assessed the scope of the seller’s rights to the land plot under the acquired property and the terms of the lease agreements for commercial premises concluded in relation to it.