Previous owners of the plot on which Ghelamco is currently developing the office block Warsaw Spire claim for the grounds. On April 4th, The Supreme Administrative Court rejected the cassation appeal, which raised suspicions that the investor may have problems with the development. Ghelamco addressed the concerns, giving an official statement, in which the company declared that the situation poses no threat to the construction.
In connection with the Supreme Administrative Court’s decision to reject the cassation appeal concerning an old property (no. 1038-J), we wish to inform that this decision does not threat the development process whatsoever. There are no legal grounds for taking away from Ghelamco Warsaw Spire LLC the rights to the grounds on which Warsaw Spire is being erected. The development of Warsaw Spire will be continued according to the planned schedule – says the official statement.
The company informs that the claims raised by the previous owners do not affect the legal status of the property. Given the actual legal status, the previous owners’ reprivatization claims do not affect the legal state of the real estate and Ghelamco Warsaw Spire LLC holds the right of perpetual usufruct. These demands can only be satisfied through compensations from the State Treasury.
The title to the property has been bought by Eastern Europe Bud LLC (presently: Ghelamco Warsaw Spire LLC) in bankruptcy proceedings, by way of tender procedure. During the procedure, proprietary claims of a third party were undisclosed. Eastern Europe Bud LLC trusted the authorities representing the state during proceedings. If the party which had a legal interest did not appeal against the tender within the specified time limits, the ownership right of the acquirer cannot be questioned now – informs the company in its official statement.