VEGAS LEX - best PPP law firm in Russia, rating "Leaders of the Legal Services Market" Kommersant"

According to the results of the annual rating "Leaders of the Legal Services Market" by the Kommersant Publishing House, VEGAS LEX Law Firm was recognized as the best law firm in Russia in the field of PPP. In addition, the firm is also ranked in 18 key legal and industry areas.

The individual ranking of lawyers includes Alexander Sitnikov, Alexandra Vasyukhnova, Maxim Grigoriev, Victor Petrov, Denis Stirbu, Yuri Ivanov and Alexander Garmaev.

Online conference VEGAS LEX and RSPP "SPIK 2.0: prospects, opportunities, challenges"

VEGAS LEX and the Russian Union of Industrialists and Entrepreneurs held an online conference "SPIC 2.0: Prospects, Opportunities, Challenges" on March 2, 2021, within which representatives of ministries and departments in charge of the implementation and procedures for concluding special investment contracts (Ministry of Industry and Trade, Ministry of Energy, Federal Reserve Fund) responded to practical questions of representatives of Russian and foreign business.

VEGAS LEX experts spoke about the prospects for renewable energy at a meeting of the AEB Energy Committee

VEGAS LEX experts spoke at a meeting of the Energy Committee of the Association of European Businesses (AEB), during which they revealed the issues of legal regulation of the RES sector (generation of electricity from renewable energy sources): the legal forms of joint venture used in practice, issues of localization and regulatory contracts as an alternative to “DPM” (capacity supply agreement) in RES.

Speakers were Evgeny Rodin, Partner, Head of the Energy Projects Practice, Alexander Garmaev, Project Manager of the Corporate Practice, and Natalia Abtshko, Head of the International Projects Group VEGAS LEX.

Anastasia Cheredova for CEE Legal Matters magazine: Sanctions-Related Amendments in Russian Commercial Procedure

As of June 19, 2020, Russian arbitrazh (commercial) courts have exclusive jurisdiction to hear certain cases related to “anti-Russian” sanctions. Affected legal entities and individuals may also apply for anti-suit injunctions in an attempt to prevent counterparties from pursuing claims abroad. Recent cases show that these new entitlements are not as favorable as once thought.

Bankruptcy payments circulation. Yugra’s bankruptcy assets have been increased under a special scheme

<p style="text-align: justify;"> The record amount of RUB 1.4 bn has been included in the bankruptcy assets of the bank “Yugra”, which goes bankrupt. It has been contributed by companies affiliated with Alexey Khotin, the ex-owner of Yugra, for repayment of overdue loans of several debtors of the bank. However, the State Deposit Insurance Agency (SDIA) cannot spend money on payments to depositors: the companies, whose loans have been repaid, are themselves close to bankruptcy, and the bank is merely one of creditors. The lawyers point out that the application of these funds by SDIA may be challenged. Stanislav Shibulkin is commenting on it. </p>

With Deprivation of Trading. Moscow Exchange Tries to Exclude Any Risk of Sanctions due to the Crimean Residents

<p style="text-align: justify;"> The Moscow Exchange intends to begin trading in the US shares in mid-August. But the question how to prevent the persons located in Crimea from participating in such trading so that not to become subject to the US sanctions is still open. The exchange believes that this is a concern of brokers, since it is they who conclude contracts with clients, who, in their turn, want to obtain an official document containing the grounds for denial from the exchange. Comments by Natalia Abtseshko. </p>

Double Taxation Avoidance Agreement with Cyprus will be preserved

As it became known earlier, during the negotiations Cyprus agreed to the conditions of Russia to amend the agreement on the avoidance of double taxation in terms of increasing the withholding tax to 15% in respect of dividends and interest. All of us are now waiting for the new reality of the Cyprus offshore. The same goes for Malta and Luxembourg. According to information from Deputy Finance Minister Alexei Sazanov, these countries "in general" agreed to the conditions proposed by Russia to revise tax agreements.<br> <br> Who will be next in line? Find the answer in a brief analysis by VEGAS LEX.<br>

Russia to initiate termination of double tax treaty with Cyprus

In early April, Russia sent a letter offering to amend the text of the agreement on avoidance of double taxation (DTT) by increasing tax rates in terms of taxable dividends and interest payments to Cyprus. However, after almost four months of negotiations, the parties failed to reach a consensus.<br> <br> According to the information published by the Russian Ministry of Finance, with due regard to close economic and historical ties between the two states, the Russian party formulated options for a compromise and offered to swiftly hold (the ongoing week) face-to-face negotiations in Cyprus but received a refusal. Consequently, Russia’s Ministry of Finance announced that it would initiate denunciation of the DTT.<br>

SPIC 2.0: Making the First Move

<p> The Ministry of Industry and Trade of Russia declared that from May 25 to June 5, 2020 investors may apply for including their technologies into the list of high technologies. This list is the most important element required for the new special investment contract (SPIC) model to function. </p>

Determining the approximate size of an economic entity’s market share

The VEGAS LEX group of companies has prepared analytical infographics devoted to determining the approximate size of a business entity's market share in order to effectively manage anti-monopoly risks.

Provisions of the new Administrative Procedures Code of the Russian Federation

As part of judicial reform in the Russian Federation, on 08 March 2015, the Administrative Procedures Code was adopted. The provisions of the adopted Code will apply in the consideration of cases arising from administrative and other state relations, starting already on 15 September 2015. Moreover, the sphere regulated by this Code will include cases on which proceedings were commenced before the said date.

Exclusion from the register of unfair suppliers: analysis of judicial practice

In the current economic situation, many companies are interested in participating in state procurement contests and in procurement tenders of individual legal entities, thus ensuring a certain level of economic stability for themselves. However, the opportunities for participation in such tenders are significantly reduced if company’s name ends up being listed in one of the registers of unscrupulous suppliers, since in their tender documentation, most customers include a requirement that participants in the tender should not be listed in the Register.