Forum - Lviv Another Milestone in Project Financing Achieved

Forum - Lviv Another Milestone in Project Financing Achieved

Forum - Lviv Another Milestone in Project Financing Achieved

The Forum Lviv project developed by Multi Corporation and co-financed by EBRD has reached another milestone, when according to the financing agreements EBRD confirmed its satisfaction with project and completeness of security documents.

Since 2012 ArsLegem works with Multi Corporation, providing legal assistance on various Ukrainian law related matters pertaining to financing, construction, and operation of Forum Lviv shopping center. Our work covered such areas as:

» negotiations, mark-up, and execution of loan agreements and following amendments thereto with European Bank for Reconstruction and Development for the project financing of over EUR 50 million;

» drafting of FIDIC based construction contract and its following negotiation between the client and its general contractor as well as involved financial institutions;

» negotiations, mark-up, and execution of security documents, including mortgage, pledge, guarantees etc. (in total almost 20 agreements);

» drafting, negotiating and execution of lease agreements with tenants;

» due maintaining and updating of the security documents (over 30 amendments and updates);

» advising and representing client on various commercial, regulatory, and compliance matters pertaining to the functioning of the shopping centre.

Today Forum Lviv is one of the most modern and successful shopping centers in western Ukraine. It is located just a short walk from the city’s main square and famous Opera House. The two-storey shopping centre is topped by a level complete with cinema, leisure facilities and restaurants overlooking the city. The total gross leasable area is 35,000 m² and it has an underground parking garage with 600 spaces.