Legal security of investors in the process of financing housing construction in Ukraine and some European countries

Pavlo Bortsevych; Viktor Beschastnyi; Yuliia Panimash; Vasyl Kobko; Oleksii Maslov

doi:10.34069/AI/2022.58.10.4

Pavlo Bortsevych National Academy of Internal Affairs (Kyiv, Ukraine). https://orcid.org/0000-0003-0921-0779
Viktor Beschastnyi Constitutional Court of Ukraine (Kyiv, Ukraine). https://orcid.org/0000-0003-2491-773X
Yuliia Panimash National University of Civil Defense of Ukraine. https://orcid.org/0000-0002-5337-6613
Vasyl Kobko Institute of Public Administration and Research in Civil Protection of the State Emergency Service of Ukraine. https://orcid.org/0000-0002-3586-8219
Oleksii Maslov Scientific Institute of Public Law (Kyiv, Ukraine). https://orcid.org/0000-0003-4904-6942

DOI: https://doi.org/10.34069/AI/2022.58.10.4

Keywords: construction, escrow accounts, housing, investor, riskiness.

Abstract

The purpose of the article is to find mechanisms that would guarantee the protection of investors’ rights in the process of housing construction. Methodology. In the process of conducting the research, the following methods were used: theoretical generalization, grouping method, methods of dynamic, statistical and comparative analysis, comparative method, method of structural and logical analysis, calculation and analytical method. Research results. The works of scientists who studied the problem of risks associated with investing in construction were analyzed. A comparative study of investor security in France and Germany was conducted. The legislation of Ukraine on this issue was examined. Practical implementation. It was determined that in order to prevent the misuse of funds in housing construction in foreign countries, there is a mechanism for attracting funds by opening escrow accounts and transferring funds from them to the developer. Value/originality. It was proven that the use of escrow accounts in house-building can become an effective mechanism for protecting the rights of investors in Ukraine.

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Author Biographies

Pavlo Bortsevych, National Academy of Internal Affairs (Kyiv, Ukraine).

PhD in Law, Professor of economical security and financial investigations department of National Academy of Internal Affairs (Kyiv, Ukraine).

Viktor Beschastnyi, Constitutional Court of Ukraine (Kyiv, Ukraine).

Doctor of Law, Professor, Honored Lawyer of Ukraine, Head of the Secretariat of the Constitutional Court of Ukraine (Kyiv, Ukraine).

Yuliia Panimash, National University of Civil Defense of Ukraine.

Candidate of Pedagogical Sciences, Associate Professor of the Administration Department in the field of civil protection of the Faculty of Civil Protection of Cherkasy Institute of Fire Safety named after Chornobyl Heroes of the National University of Civil Defense of Ukraine.

Vasyl Kobko, Institute of Public Administration and Research in Civil Protection of the State Emergency Service of Ukraine.

PhD in Law, Associate Professor, Professor of Fire Prevention and Safety of Population Department of the Institute of Public Administration and Research in Civil Protection of the State Emergency Service of Ukraine.

Oleksii Maslov, Scientific Institute of Public Law (Kyiv, Ukraine).

PhD in Law, Senior Research Fellow of the Scientific Institute of Public Law (Kyiv, Ukraine).

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