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27
July

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

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.

Natalia Abtseshko, Head of International projects group
Kommersant
17
July

Vegas Lex has commented on one of the first cases over holding a lawyer subsidiarily liable

The lawyer Tatiana Votinova is being held subsidiarily liable for debts of the company to which she provided legal services under a contract. The amount of claims is RUB 23 million. Valeria Tikhonova, Associate of VEGAS LEX’s Bankruptcy projects, is providing her comments. 

Valeria Tikhonova, Associate of Bankruptcy projects
Arbitration practice
16
July

The ownership of Tulachermet-steel has turned out to be in question. the fate of one of the assets of koks group will be decided by a court of cassation

A dispute between Evgeniy Zubitskiy, the majority shareholder of Koks group, and his daughter-in-law Viktoria Kazak has changed from financial issues to re-division of assets. This is about control over Tulachermet-Steel plant, one of the group companies, in which RUB 55 billion has been invested. Mrs Kazak challenges the sale of a participatory interest therein to Metallfinance owned by Evgeniy Zubitskiy for RUB 39.2 million. One day the courts take the sides of one party, another day the courts take the sides of the other party; the ball is now in the court of cassation. Lawyers say that the plaintiff has a chance to win and that the case itself may become important for the practice concerning corporate disputes. Maxim Grigoryev is commenting on it.

Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects
Kommersant
14
July

Judges will actively identify the laundering of proceeds in civil cases

The Supreme Court has published the Review of Practice for Combating Illegal Financial Transactions.  When examining an administrative or arbitration case, the court may de facto be involved in the commission of a criminal offence. The published document recommends the judges to act actively if there is a reason to suspect that the plaintiff’s demands are invented specifically for laundering the proceeds from crime. The powers and authority are sufficient. The court must not be limited to the formal consideration of a case but it must identify the grounds to suspect the legitimization of income and, if necessary, engage other government agencies, i.e. prosecutor’s office, tax office, customs office and Rosfinmonitoring. Kirill Nikitin, Head of Volga Directorate of the VEGAS LEX law firm, has studied the Supreme Court’s Review.

Kirill Nikitin, Head of Volga Directorate
Volgasib.ru
7
July

State Contracts in Russia: Violations and Punishments

According to the Ministry of Finance, annually in Russia there are government purchases totaling several trillion rubles. And there are always those who want to take possession of this money illegally. Some bypass the competitive system so that the tender goes to a "friendly" company. For this, different schemes are used: “enlarge the lot” or make “excessive requirements”. Others immediately purchase from a single supplier and find the necessary reasons for this. Experts explained what needs to be changed in the problem sphere, and FAS representatives spoke about what they had already managed to reform. Commented by Ksenia Podguzova.

Ksenia Podguzova, Senior Associate of Commercial group
Pravo.ru
26
June

The Supreme Court recalled how to prioritize the claims of creditors correctly

The design bureau did not pay dividends to its shareholder. For this reason, the companies agreed that the debtor will repay the debt in several installments. No sooner had the bureau returned the money, it became bankrupt. The bankruptcy trustee decided to go to court to establish the nature of the dividend debt. He believed that these requirements could not be included in the registry. And three courts attributed these payments to current ones. The Supreme Court did not agree with this position and set aside the decisions of lower courts. Comments on Stanislav Shibulkin.

Stanislav Shibulkin, Associate of Bankruptcy projects
Pravo.ru
23
June

Fake banks mastered Facebook. Fraudsters took advantage of the “current situation”

Facebook has discovered a new fraud scheme promising easy money. All I have in mind is money for clients "in connection with the current situation." In fact, Facebook claims that users should contact them with similar ads. Comments by Kirill Nikitin.

Kirill Nikitin, Head of Volga Directorate
Kommersant
16
June

Antitrust Compliance Amendments


The article discusses new provisions on antitrust compliance that have occurred as a result of amendments to the Federal Law of 26.07.2006 No. 135-ФЗ “On Protection of Competition” (hereinafter - the Law on Protection of Competition), as well as assesses the non-binding nature of antitrust compliance and presents conclusions regarding the practical benefits of introducing antitrust compliance. Ksenia Podguzova and Nikita Korshunov tell.

Ksenia Podguzova, Senior Associate of Commercial group
Joint Stock Company
10
June

Laysa unhooked from bankruptcy Russian Railways advertiser came under moratorium as part of a group

The Federal Tax Service (FTS) failed to bankrupt the Laysa advertising contractor of Russian Railways. She was helped by the inclusion of the Russ Outdoor group, to which she is a member, in the list of backbones, which gave her the right to use the moratorium on bankruptcy. This is the first known such case in the advertising market, the outer segment of which in the months of self-isolation could lose 70–90% of revenue. Comments by Valery Tikhonova.

Valeria Tikhonova, Associate of Bankruptcy projects
Kommersant
5
June

The futures price will be calculated by the court. Investors demand compensation from the Moscow Exchange

Private investors filed the first class action against the Moscow Exchange to recover losses from the execution of an oil futures contract in April this year at a negative price. The amount of claims is only 70 million rubles, but others are also expected, the total amount of claims may exceed 1 billion rubles. Lawyers believe that private investors have chances to win, but they will have to prove the connection between the actions of the exchange and losses. Commented by Victor Petrov.

Victor Petrov, Head of Litigation practice
Kommersant
27
July

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

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.

Stanislav Shibulkin, Associate of Bankruptcy projects
Kommersant
16
July

Federal anti-monopoly service in mass media: meeting on controlling and supervisory and permitting activities was held during the russian business weeks

On July 14, 2020, during the Russian Business Weeks, the Controlling and Supervisory and Permitting Activities. Future Outlook meeting was held. Alexander Sitnikov, Managing Partner of Vegas Lex, reported on how to make the businessmen’s lives easier beyond using "regulatory guillotine"

Alexander Sitnikov, Managing partner
FAS Russia
14
July

The Ministry of Justice has proposed to hold a founder of municipal budgetary institution secondarily liable

The draft law envisages that the relevant provision will apply to the legal relations arisen after 1 January 2011.
One of the experts of AG noted that, although the Constitutional Court of the Russian Federation concluded that Clause 5 of Article 123.22 of the Civil Code of the Russian Federation is inconsistent with the Constitution of the Russian Federation, the draft law proposes to make similar amendments to Clause 6 of the relevant Article, which relates to the matter of secondary liability of the owner of property of autonomous institution. The second expert noted that the amendments, if adopted, would positively affect the practice of recovery of debt for supplied resources from budgetary institutions in favour of resource providers (RPs). Yuriy Tatarinov is providing comments thereon.

Yuriy Tatarinov, Counsel, Energy Practice
Advocate newspaper
14
July

Liquidation with consequences. the supreme court will decide on liability of directors of the companies excluded from the unified state register of legal entities

The Supreme Court of Russia will decide in what cases a director shall be liable for debts of a company liquidated without a bankruptcy procedure. The Judicial Chamber on Economic Disputes of the Supreme Court received a complaint from the company’s director brought to the subsidiary liability for failure to file a bankruptcy petition. The lawyers hope that the Supreme Court will differentiate general civil and bankruptcy grounds for bringing debtors’ directors to liability and will help creditors choose the right method to protect their rights. Valeria Tikhonova comments on this as follows.

Valeria Tikhonova, Associate of Bankruptcy projects
Kommersant
29
June

Banks hold on to zeroing. The cancellation of VAT privileges for software did not please financiers

Bankers are strongly opposed to the government’s proposal to compensate for budget losses from tax maneuvers in the IT industry by canceling VAT benefits for software. According to market participants, it is banks, as large consumers of software, that as a result will provide about half of payments to the budget. But at the same time, their own products are not subject to VAT, so offsetting is not possible. In this situation, financiers are asked to maintain benefits at least for banks, threatening to delay the development of informatization and the rise in price of services. Comments by Yuri Ivanov.

Yuriy Ivanov, Head of Tax practice
Kommersant
25
June

The Justice Ministry is pushing a new Code of Administrative Offenses to the State Duma. The process of administrative prosecution of citizens has not led to international standards

The public discussion of the draft new Code of Administrative Offense (CAO) and the Code of Procedure attached to it has ended. The Ministry of Justice has already published revised recurring versions of these documents. Experts note that civilians are left without administrative prosecution. For example, the participation of lawyers in such cases is not up to international standards. Comments by Stanislav Matyushov.

Stanislav Matushov, Senior Associate of Litigation practice
Nezavisimaya Gazeta
17
June

Code at a discount. The draft Procedural Administrative Code submitted by the Ministry of Justice


Entities providing free payment of all types of penalties, electronic appeal of administrative decisions and the provision of non-pecuniary damage compensation for the abolition of illegal fines Interviewed Kommersant with a document to finalize. Comments by Stanislav Matyushov. 

Stanislav Matushov, Senior Associate of Litigation practice
Kommersant
16
June

The Supreme Court has explained whether it will have to pay for the failure to fulfill the preliminary contract

The founder signed a preliminary agreement with the company on the sale of a share in the LLC for 170 million rubles. A potential buyer undertook to pay immediately 17 million rubles. But later he changed his mind about making a deal and did not list anything. The seller went to court to recover money from the company. The first instance decided to pay 17 million rubles, and the appeal and cassation denied the claims. Sun told who is right. Commented by Igor Chumachenko.















Igor Chumachenko, Partner, Head of Real Estate, Land & Construction practice
Pravo.ru
8
June

Check: theory and practice of agreements via the Internet

You can easily order a product, work or service through the Internet. Both companies and consumers can do this. It is enough to choose a product, indicate your data and confirm acceptance of the terms. But what is the nature of such agreements and what will happen if someone does not fulfill his obligations? Judicial practice demonstrates different approaches, and experts tell you what you need to know about click-wrap-contracts in order to minimize legal risks. Comments by Dmitry Borodin.

Dmitry Borodin, Senior associate of Technologies and Investments Group
Pravo.ru
5
June

A pledge of rights under a contract does not automatically apply to rights from a subcontract agreement

The Supreme Court emphasized that the conclusion of a subcontract within the framework of a contract agreement, the rights of which are laid, does not entail the inclusion of rights from the subcontract in the subject of collateral obligations. Comments by Stanislav Shibulkin.

Stanislav Shibulkin, Associate of Bankruptcy projects
Advocate newspaper
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