Here are the details of the 1 billion euro lawsuit filed against the office building in Zugló: According to MNV, the state's action was legal.
According to the government’s decision, the office building’s permanent purchase agreement will not be binding, after the Magyar Nemzeti Vagyonkezelő (National Property Management) has conducted a comprehensive review of the Bayer Construct project. According to the statement, if the government withdraws from the contract due to the builder’s failure to perform, it will recover the installments of the payment made and double the deposit, and it will also be entitled to claim compensation for non-performance. The issue will also be on the agenda at the Property Investment Forum conference.
As Prime Minister Peter Magyar and Velkey György László, State Secretary of the Ministry of Foreign Affairs, discussed on Monday, the government does not have a permanent purchase agreement for the office building after the National Property Management Authority conducted a comprehensive legal and financial review of the Bayer Construct project. According to a statement released by the government on Monday evening, if the project is abandoned due to the developer’s failure to fulfill its obligations, and as a result, the state withdraws from the contract, the state will not only recover the installments of the already paid purchase price, but also twice the deposit, and may also claim a failure-to-perform penalty. It is worth attending our Property Investment Forum conference, where this topic will also be discussed.
