The General Directorate of the Kyiv City Council for Servicing the Foreign Representative Offices (GDIP) is about to finalize the process of signing the set of documents regarding attraction of developer and establishment of construction financing fund (the CFF) in construction of hotel-residential complex "Diplomat" at 44-46 Gogolivska St. in Shevchenkivskyi district of Kyiv. Subdivision of known Ukrainian development group – Danfort LLC was chosen as the main partner and investor of the project. VAB Bank OJSC acts as the manger of the CFF and major financial partner of the project. In result of multilateral cooperation GDIP will receive the in-built into the complex 3-star hotel of approximately 1061 sq. m. under a separate freehold title.

Vasil Kisil & Partners are the sole legal advisors on the project and represent GDIP in all matters involving structuring of partnership relations and transfer of customer’s functions in construction of the facility, and attraction of financing and pre-sales of office and residential premises and parking through the CFF scheme.

In advising on the project the attorneys of Vasil Kisil & Partners have drafted the agreement on development of the hotel-residential complex "Diplomat" and negotiated its conditions with the developer; drafted the trilateral agreement on construction by and among GDIP, the developer and the manager of the CFF and negotiated and balanced its conditions between all the parties involved; and also participated in elaboration and coordination of other documents related to development of the project, establishment of the CFF and cooperation between the parties.

The project is supported from the real estate practice of Vasil Kisil & Partners by senior associate Alexander Borodkin acting under general supervision of partner of the firm Oleksandr Khomenko.

---

Vasil Kisil & Partners is one of the leading and long-established law firms in Ukraine that has impeccable reputation, unique expertise and is providing top quality services to its clients.  Founded in 1992, the firm has assembled a talented team of 55 experienced and skilled lawyers dedicated to the highest level of service adhering to internationally accepted professional and ethical standards. Vasil Kisil & Partners provides legal support to both Ukrainian companies operating abroad as well as foreign and international corporations doing business in Ukraine.

For additional information, please contact Tatyana Sabitova, PR & Communications Executive at:
Tel: +38 044 581-7777     Fax:     +38 044 581-7770     sabitova@vkp.kiev.ua     www.kisilandpartners.com