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Small Investors of the Ohkta Modern housing estate in Saint Petersburg to renew the hunger strike

They don’t see any solution to their problem in the official statement issued by Saint Petersburg City Government regarding this problem, one of the many the Russian ‘’small investors’’ are facing.

The cheated small investors of the Ohkta –Modern housing estate are set to renew the hunger strike as of April, 21. According to Denis Liber, the leader of the investors’ initiative group, Injunction № 260 issued by the City Government on completion of construction of  tenement houses on Bolsheohtinsky prospect, Saint Petersburg, not only fails to secure the investors’ rights but in fact ruins them.

The investors’ discontent was caused by  the fact that the document issued does not indicate specific time periods for completion of the construction project but also fails to indicate any an organization which keeps a registrar of the cheated investors to sign rent agreements with on the basis of Federal Law 214. The investors have also stated that a regular document issued by the Peter Construction JS company is given not as the developer but the investor.

At the same time, no participation of the city government in the project is specified in the document, which relieves the City Government of responsibility for the fraudulent schemes of murky businessmen. At the last meeting with the investors Mr. Marat Oganesyan, a Vice Governor of Saint Petersburg responsible for construction projects, promised that the city would invest into the Ohkta Modern estate which would enable the Government to monitor the situation on the housing market in Saint Petersburg. ‘’Instead of doing this, City Government just makes the Peter Construction company liable to sell the space under construction after the construction is over’’ – Denis Liber is said as quoted.

All this, taken together, according to the small investors, violates considerably their rights and does not secure completion of the construction project by December, 2016.

The small investors believe that the City Government is playing down to the rogue businessmen, and they doubt that their demands put forward during the previous hunger strike are likely to be met.

That is why they have announced that they are set to renew their protest action.

The action is to be renewed beginning from April, 21.

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