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11
January

Recognition and enforcement of foreign arbitral awards in Russia: overview and prospects

The rapid development of international trade in the 21st century calls for the unification of legislation and enforcement practices in the spheres associated with international commercial arbitration, especially so in the area of recognition and enforcement of foreign arbitral awards.
Natalia Abtseshko, Head of International projects group
Svetlana Vasilyeva, Junior associate of Litigation practice
AEB Business Quarterly
17
May

Restriction of shareholders’ voting rights: common scenario and consequences of restriction

In accordance with provisions of article 65.2 of the Civil Code of the Russian Federation, the participants of a corporation, including shareholders, shall have the basic right to participate in administration of the corporation’s affairs. In particular, this right shall be exercised through participation in a shareholders’ general meeting with the right to vote on all matters within its competence pursuant to clause 2 of article 31 of the Federal Law “On Joint-Stock Companies”, No.208-FZ, dated 26 December 1995. However, there are instances where the shareholder’s right to vote on the matters relating to management in a joint-stock company may be restricted by internal documents, shareholders’ agreement or by virtue of law and (or) court judgment. Depending on the reason for the said restriction, various legal consequences arise. The said restrictions and their consequences are considered further in greater detail.
ezh-Yurist
20
April

The practice of challenging of transactions in case of the bankruptcy of credit institutions

According to the statistics posted by the Bank of Russia on its website, as of 1 January 2017, 288 credit institutions (87.54% of the total number of liquidated credit institutions) have been declared bankrupt by arbitration courts, bankruptcy proceedings have been initiated in relation to them and bankruptcy receivers have been appointed. However, the statistics of satisfying the creditors’ claims is low – since credit institutions do not have sufficient funds for a long period of time, the claims are satisfied at the average of 15.8% of the amounts of ascertained claims.
Victor Petrov, Head of Litigation practice
Elvira Khasanova, Junior associate Litigation practice
Legal work in a credit organization
13
April

Securing of loan obligations to the bank: analysis of the most commonly used schemes

When entering into a loan agreement between credit institution and borrower (in this article, the primary focus will be on the legal entities acting as borrowers), the majority of financial risks lies specifically with the creditor that provides monetary resources to the borrower. For this reason, the means of securing the obligations become particularly important for the entity that has provided a loan. As a rule, the particular type of security is suggested by the credit institution itself, based on the amount of the provided loan, status of the borrower (its financial standing, corporate structure and assets) and other concurrent factors.
Victor Petrov, Head of Litigation practice
Business and Life
22
March

New round of anti-money laundering in EU and its consequences

Although the new European AML regulation does not directly apply to Russia, it will anyway affect the Russian banks. How do requirements of Regulation (EU) 2015/847 align with Russian legislation concerning personal data? What duties are imposed on the payment system operators? What are the motives for the European courts to solve the dilemma as to which matter has higher priority: the need to disclose information for AML/CFT purposes or the need to observe confidentiality?
International Banking Operations
15
March

Improper use of land: conditions of incurrence of liability and consequences

Being governed by article 7 of the Land Code of the Russian Federation, the courts recognize the improper use of land where the land plot is used out of accordance with its category of land.
Ekaterina Ivanushkina, Senior associate of Real Estate. Land & Construction practice
Business and Life
15
February

Complexity of proving: perpetuation of evidence in the Internet

The proper functioning of modern society is impossible without using information technology that relates to the quickest possible transfer of information and its accessibility. The rapid development of information technology, especially over the past decade, covered all spheres of life of a man of today.
Semen Lopatin, Associate of Litigation practice
Business and Life
13
February

2017 Results: Overview of the most important legal events of the outgoing year

To prepare the final 2017 issue, we asked the lawyers what legal events of the outgoing year appeared to be the most significant as well as what they expect from the incoming year. There were many important events, i.e. subsidiary liability of persons controlling a company, legal market reform, proactive efforts of antimonopoly agency, and professionals in each area have their favourite events.
Igor Chumachenko, Partner, Head of Real Estate, Land & Construction practice
Business and Life
2
February

Overview of judicial practice concerning heat supply for the period of September to December 2017

Below is an overview of judicial acts being the most important for heat supply, which were adopted during the period of September to December 2017.
Yuriy Tatarinov, Counsel, Energy Practice
Energy Market
19
January

Failure to pay for housing and public utility services: practice and potential solutions

This article outlines possible measures to combat the growth of arrears for energy provided in the housing and utilities sector. To do this, the author analyzes current legislation aimed toward reinforcing financial discipline on the part of energy consumers, practice with how it is applied, and the relevant factors in the growth of accrued arrears.
Ilya Shengeliya, Project manager Southern directorate
Energy and Law
8
August

Regulated purchases in the oil and gas industry: key changes and new opportunities

In the first issue of the Digest NEFTEGAZ (joint project of National Oil and Gas Forum and Oil and Gaz excibition, supported by Expocenter), read an article authered by Yulia Polyakova, lawyer of the Commercial Group VEGAS LEX, on the topic of procurement regulation in the Oil and Gas industry of Russia.

In her article, Julia analyzed the latest amendments to Federal Law No. 223-FZ of 18 July 2011 "On Procurement of goods, works, services by Individual Types of Legal Entities", which underwent significant changes affecting the purchase procedure in the Oil and Gas industry after 1 July 2018.
Digest NEFTEGAS
20
April

Recommendations for conclusion of shareholders’ agreements with regard to banks

In our practice, over the last 3 to 5 years, the shareholders and participants of the Russian companies have been increasingly concluding the shareholders’ agreements (corporate agreements) under the Russian law. This trend also concerns the banks. For example, according to the publicly available sources, the shareholders’ agreements have been concluded in respect of PJSC “Post Bank”, OJSC “TransCreditBank” and PJSC “MTS Bank”.
Alexander Garmaev, Head of projects, Corporate and M&A practice
Legal work in a credit organization
17
April

Counterparty’s representations appeared to be misleading. How to prove damages?

In case of misrepresentation by a counterparty, damages may be recovered from it. However, not in every instance, the court treats any given information as a representation and, moreover, its unreliability will have to be consistently proven. To learn when you have a chance to receive compensation for damages, please read this article.
Stanislav Matushov, Associate of Litigation practice
Arbitration practice
10
April

Replacement of company general director: how to ensure the complete and smooth business handover to a new chief executive officer?

The replacement of the company chief executive officer (i.e. director, general director, etc.) is the procedure that requires special attention since the way it is carried out may cause serious problems to the company related to actual paralyzation of its activity. This article is about those practical steps that need to be taken in case of replacement of the chief executive officer to ensure the complete and smooth business handover to a new chief executive officer.
Business and Life
15
March

Participant in a LLC fails to pay for its participatory interest: analysis of consequences and company actions. Overview of judicial practice

As follows from provisions of the Civil Code of the Russian Federation, the basis for any business company, including a limited liability company, is its charter capital divided into participatory interests of its participants. Such participatory interests must be paid by the company founders, including in the form of money, securities, other things, property rights or other rights having the monetary value.
Stanislav Matushov, Associate of Litigation practice
Business and Life
1
March

Overview of key legislative changes in the energy sector in February 2018

In February, the Government of the Russian Federation adopted a number of important decrees in the energy sector. We offer you to review them in our new overview.
Yuriy Tatarinov, Counsel, Energy Practice
BigPowerNews
14
February

Russian courts tend to find independent guarantees as quite dependent

In recent Russian dispute resolution practice, judges incline to consider independent guarantees as not completely independent from the underlying secured obligations. This entails risks of unjust enrichment of the beneficiaries unfairly claiming payments under independent guarantees. This post offers recommendations to avoid such risks of the judiciary practice twists.
CIS Arbitration Forum
2
February

Overview of changes in the energy legislation sphere in January 2018

In January the Russian government adopted a number of important regulations affecting the energy industry. Our latest update looks at these changes.
Yuriy Tatarinov, Counsel, Energy Practice
BigPowerNews
1
February

Overview of changes to legislation in 2017: summary

In the preceding year, we regularly advised you of the most significant legislative changes that develop legal regulation and business environment in the country. In this overview, we shall summarize and submit for your consideration the new laws and other regulatory legal acts published in 2017, which will be of interest to business representatives of various industries and business areas.
Alexander Sitnikov, Managing partner
Business of Russia
17
January

Pausing when a statute of limitations runs out: five criteria that indicate the assumption of debt

Almost two years have passed since the Russian Federation Supreme Court Plenary Assembly adopted a resolution on issues concerning statutes of limitations. Over that time, express approaches to applying these interpretations have taken shape in judicial practice. We will gain an understanding of how the mechanism works nowadays for pausing when a statute of limitations runs out.
Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects
Artem Gasparyan, Junior Associate of Southern directorate
Arbitration practice
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