Elaboration of contractual documentation governed by the law of England and Wales for Vneshekonombank

Vneshekonombank gives credits to organizations, which construct a wide range of objects erected within the program of the XXII Winter Olympic Games in Sochi. As the need of additional funds arose due to an unplanned increase of the construction budget, and taking into consideration the importance to conclude the construction within the determined period, a number of agreements governed by the law of England and Wales was executed between Vneshekonombank, the constructors and several foreign companies: sponsor support agreement (on the guarantees of additional financing of the construction), loan agreements, agreements on security cession of rights under loan agreements. The respective contractual documentation was elaborated by the specialists of the Law Firm "YUST".