Vice-Premier Marat Khusnullin, who oversees the government the construction industry, invited for the post of the head of the Federal Fund of protection of the rights of shareholders of his former subordinate in Moscow city hall. This structure can lead the former head of Moskomstroyinvest Konstantin Timofeev. Prior to that, he was responsible in Moscow for the completion of such distressed apartment complexes, as “tsarina”, “Terletsky Park”, “Academ-Palace”.The Supervisory Board of JSC “House.Russia” has decided to propose to the government of the Russian Federation to terminate the powers of the General Director of Federal Fund of protection of the rights of citizens—participants of shared construction (Foundation for the protection of the rights of shareholders) Oleg Govorun and consider for this position the candidate Konstantin Timofeev said in a release Fund. Mr. Timofeyev will be able to take office after it is signed by Prime Minister Mikhail Mishustin decision.Konstantin Timofeev until December 2018 was the head of the Moskomstroyinvest. Prior to that, he worked in the financial sector. For example, in the years 1996-2009 he was head of the Board of Kazan Intehbank in 2009-2010 — the Moscow branch of Bank “AK bars”. And in 2011 was appointed head of Moskomstroyinvest. The Agency, part of the Moscow construction complex, preparing documents for headed by mayor Sergei Sobyanin, urban development and land Commission (SLC), which coordinates development projects and oversees the completion of distressed residential complexes. For example, in this position, Mr. Timofeev, who has worked in Moskomstroyinvest until December 2018 (after retiring then to the aircraft industry) oversaw the completion of construction of housing for defrauded investors in such controversial projects as “tsarina”, “Terletsky Park”, “Academ-Palace”.Konstantin Timofeev in the Moscow mayor’s office he worked under the command of then Vice-mayor, head of the Moscow strojkompleksa and also a native of Tatarstan Marat Khusnullin, which is now in the status of Deputy Prime Minister responsible in the Federal government including the construction industry. He also oversees the work of the Federal Foundation for the protection of rights of investors. Until the beginning of may, the Fund was headed by Oleg Govorun, who worked at various times, Deputy head of the Russian President on domestic policy, Minister of regional development. Earlier it was reported that Mr Govorun wrote a letter of resignation from the post of head of the Fund on their own.The Fund’s mechanisms for the protection of investors, established in 2017 on behalf of the President of Russia Vladimir Putin, suggest two options to restore the rights of defrauded citizens: the completion or compensation. The Supervisory Board of the Fund currently made a decision to restore the rights of more than 17 thousand real estate investors across the country, it’s 229 homes in 23 regions. From them 8 thousand holders instead apartments will receive compensation. Prior to that, about the same number of buyers of apartments who have not received the keys were issued for cash. Payment by law cannot be less than the amount paid under contracts equity (DDU). Over 8 thousand interest-holders were going to get the apartment ready after completion of construction of houses developers bankrupt. The new developer will act as the regional funds for the protection of rights of investors. By law, to complete the construction takes three years. One of the major and controversial projects for which responsible Fund— completion in the suburbs of bankrupt homes Urban Group.Khalil Amine