Analytics Publications

5
June
2020

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, Partner, Head of Litigation practice
Kommersant
13
April
2018

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, Partner, Head of Litigation practice
Business and Life
28
September
2017

Resolving disputes in foreign arbitration courts: the history of one case

The Moscow City Arbitration Court, in case No. А40-219464/2016 on May 5th, 2017 delivered ruling (after the case was submitted for review again) that refused to recognize and enforce a ruling made by a foreign arbitration court following the petition filed by OOO Kommon Ligal Properti. In this article, we present an analysis of that ruling, which is of key significance for all those who participate in commerce and petition foreign commercial arbitration courts to resolve their disputes.
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
21
April
2017

Information law for company participants – the search for a balance of interests

At the present time, in various legal relationships there exists the acute problem of observing a balance of interests concerning the parties involved in these legal relationships, their legal rights, and their mutual economic needs. Judicial practice, when considering disputes between these kinds of parties, takes into consideration not only the formal requirements of legislation, but also the real economic and legal goals and interests of the participants.Corporate relations are not an exception. One of the specific peculiarities of these legal relationships is the right of company participants to receive information on the company’s activities. In this article, we will examine the main trends in regulatory enforcement practices for reviewing disputes concerning complying with information law by company participants, and assess the possible future prospects for the development of these trends.
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
23
March
2017

Loan agreement currency risks

Among the cases covered in the Russian Supreme Court's Case Law Review (published on 16 February 2017), special mention should be made of a dispute relating to a foreign-currency denominated loan agreement. The claimant was attempting to change a loan agreement with a bank on the basis of Section 451 of the Russian Civil Code, on account of a material change in circumstances. The claimant argued that the significant increase in the exchange rate of the foreign currency since the signature of the agreement constituted such circumstances. The lower courts agreed and ruled in the claimant's favour, but the Supreme Court's Judicial Chamber on Civil Cases disagreed and sent the case back to the court of first instance. Who, then, should bear the risks associated with a foreign-currency denominated loan agreement?
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
23
January
2017

The court adopted the judicial act not in favor of the company. How to achieve the suspension of its execution

When the court considers the judicial act reversal of execution difficult. Which documents will confirm the poor financial status of society. In which cases it will be possible to appeal against the order on the judicial act execution suspension
Victor Petrov, Partner, Head of Litigation practice
Arbitration practice
1
July
2016

How to protect a company’s business reputation through the courts?

The main questions are – Which court to file a claim with, when it comes to the protection of a company’s business reputation? Who will be the defendant, if the defamatory information was disseminated by the mass media? What must the plaintiff prove, and is it possible to apply for expert examination of materials, which contain the defamatory information? Solution: if the claim for protection of a company’s business reputation derives from business activities, then a claim needs to be submitted to an arbitration court. Defendants shall be recognized as those individuals who spread defamatory information or reports, and the court will require them to prove that the information corresponds to reality. An expert examination can be requested when there are no other ways to establish the defamatory character of the information.
Victor Petrov, Partner, Head of Litigation practice
Company's lawyer
24
November
2015

Bank increased interest on the loan, citing the economic crisis. The chances of a borrower challenging such an increase

- In which cases can a bank increase the interest rate on a loan - What arguments will help a borrower challenge an interest rate increase on a loan - How to prove the punitive nature of the new interest rate imposed by a bank
Victor Petrov, Partner, Head of Litigation practice
Arbitration practice
21
October
2015

What to do if a bank has restricted cash withdrawals

Whereas limiting the amount cash withdrawals by a credit organization is not necessarily a situation that entails the violation of the rights of the client, it nevertheless serves as an indicator of negative economic changes that have occurred in the financial position of that bank.
Victor Petrov, Partner, Head of Litigation practice
23
July
2015

Recognition of debt after the expiry

On June 1, 2015 came into force the next set of amendments to the Civil Code. One of the most important stories in this section affects the ratio of the limitation period and the recognition of the debt liable party.
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
20
April
2018

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, Partner, Head of Litigation practice
Legal work in a credit organization
8
November
2017

Useful advice: the cause-and-effect process during the recovery of claims

In disputes involving claims for damages, what comes to the forefront is the qualitative selection of evidence, as well as knowing how to state your position to the courts. Victor Petrov, the Head of Litigation group at the VEGAS LEX law firm, talks about the particularities of evidence gathering and what methods are effective, using legal case studies as examples.
Victor Petrov, Partner, Head of Litigation practice
Pravo.ru
27
April
2017

The rule of law: how does it affect economic relations?

The rule of law, which this article is devoted to, is an integrated concept that unites the most important values of a society bound by laws. Due to the accelerated development and increasing complexity of the stream of commerce, the rule of law is particularly relevant, since it is exactly what needs to be the starting point for building new legal institutions.
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
31
March
2017

Libel cases: what to prove, and how to prove it, concerning the amount of compensation

Channel One Russia, RBC, and bloggers: who can become defendants, and why they can, in claims to protect honor, dignity, and business reputation
Victor Petrov, Partner, Head of Litigation practice
Forbes
16
March
2017

Acceptable reasons for missing a procedural deadline

One of the aspects assessed by Russia's Supreme Court in its Review is compliance with procedural deadlines and extending such deadlines where they have been missed. The Supreme Court has found that an applicant's request for a missed procedural deadline for filing a complaint to be extended may not be refused if the deadline was missed because of a failure by the courts to meet procedural deadlines.
Victor Petrov, Partner, Head of Litigation practice
EZH-Yurist
26
August
2016

Interest rate on a loan – when does a bank have the right to raise it unilaterally

Due to the rapid development of the financial markets, the question of borrowed funds (in particular, loans from banks and non-bank organizations) and the legal regulation of such crediting is very acute for individuals and legal entities. The banks retain wide rights to enter into contracts and, on the contrary, the options of the borrower are limited. To learn when a bank is entitled to unilaterally increase the interest rate on a loan, please read this article.
Victor Petrov, Partner, Head of Litigation practice
Business and Life
15
April
2016

Protecting the rights of owners of registered book-entry registered securities by filing a claim vindication

Book-entry registered securities and stocks are of particular value for their owners by virtue of their representing large amounts of property, intellectual and corporate rights. For this reason, shares are often the subject to civil law transactions, which subsequently may end up being challenged by one of the parties, for whatever reasons. The problem of protection of the rights of owners of book entry registered securities is now extremely urgent, due to the development of civil law turnover and a significant volume of transactions involving shares.
Victor Petrov, Partner, Head of Litigation practice
Securities Market
10
November
2015

Legalization of conditions on making payments under a preliminary contract

The task was to recognize the validity of conditions, included in a preliminary contract, on making partial payments for a property. When it comes to sales transactions, then no particular problems should arise. However, if you have a special situation, you need to structure an advance payment and/or a security deposit, as well as ... this instruction.
Victor Petrov, Partner, Head of Litigation practice
Сorporate lawyer
16
October
2015

How to protect the interests of the parties in the implementation of international guarantees, under sanctions conditions?

Under sanctions conditions, participants of guaranteed international transactions find themselves between a rock and a hard place. On the one hand, for violation of the sanctions regime, one can be fined. On the other hand, if obligations under the guarantee will not be fulfilled, because of the sanctions, the counterparty to the transaction may turn to the courts. The question is what should be taken into account today when issuing guarantees, and the performance of obligations under them?
Victor Petrov, Partner, Head of Litigation practice
Legal work in a credit organization

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